tokyo dec 14 reuters  japan is ripe for a revival in stock listings by foreign firms the trust banking arm of mitsubishi ufj financial group inc 8306t said on tuesday with more than a dozen in the pipeline for tokyos startup market japans huge household wealth and the relatively high stock valuations on the tokyo bourses mothers market for startups were enticing companies away from other exchanges said iwao nagashima the chief executive of mitsubishi ufj trust and banking corp we are beefing up our efforts in this business in sync with the governments campaign to make tokyo a global financial hub and attract more foreign firms he said nagashima said mitsubishi ufj trust which aids foreign listings via the issuance of japanese depositary receipts jdrs or a corporate inversion scheme has planned up to 20 listings of foreign startups by 2024 the bank which currently dominates the business of helping foreign firms issue jdrs has created a special team to take advantage of increasing interest and was currently in talks with about 50 companies nagashima added he did not provide details about any the companies the number of foreign firms listed on the tokyo bourse has plunged from more than 120 in 1990 to fewer than 10 reflecting the countrys economic stagnation taiwanoriginated artificial intelligence startup appier group inc 4180t debuted on the mothers market in march after creating a tokyobased holding company through a corporate inversion scheme chihhan yu ceo and cofounder of appier told reuters the company was attracted by the tokyo markets very complete ecosystem including investors who understood the business singaporebased management consulting firm ycp holdings global 9257t is scheduled to debut this month on the mothers market through its japanese depositary receipts japanese equivalent of american depositary receipts