(SPAC), a so-called special purpose buyout company, could go public as early as next year, given the time it takes for the Tokyo Stock Exchange to revise IPO procedures and develop new rules, according to the Nikkei. 

Tokyo: Japan is considering changing its rules to allow domestic blank check companies to conduct initial public offerings ((IPO)), Nikkei reported. 
The newspaper reported that discussions between the (Financial Services Agency) of Japan's Financial Agency, the Ministry of economy, Trade and Industry and the (Tokyo Stock Exchange) of the Tokyo Stock Exchange will begin this summer, but did not say where the information was obtained. 
The company said the cabinet planned to include the issue in its strategic growth plan in June. 
(SPAC), a so-called special purpose buyout company, could go public as early as next year, given the time it takes for the Tokyo Stock Exchange to revise IPO procedures and develop new rules, according to the Nikkei. 
It says Japan's SPAC rules may have more censorship and investor protection than the United States. -- Bloomberg