Japan's Financial Services Agency (FSA) has registered Smartround Securities as a brokerage for secondary market trading of unlisted stocks. This move aims to broaden Japan's private market and attract more investment into domestic startups. The platform will provide investors with a more efficient way to buy and sell shares, thereby facilitating the flow of capital to growth companies, and is expected to improve corporate governance and transparency for unlisted companies, ultimately enhancing the quality of Japan's IPO market.