CellSource (TYO:4880) said that its board has resolved to apply for a move from the Tokyo Stock Exchange Prime Market to the Standard Market, according to a Wednesday filing on the Tokyo Stock Exchange.

The Japanese regenerative medicine-related company shifted to the Prime Market in October 2023 to support the industrialization of its business. However, weak performance in the fiscal year ended Oct. 31, 2025, left the company below the "market capitalization of tradable shares of 10 billion yen or more" required to remain in the Prime Market.

CellSource said the Standard Market, which maintains governance and liquidity standards, is more suitable given its current business scale and market conditions. The date of approval is undecided, and the company's application may not be accepted if listing requirements are not met.

As of Oct. 31, 2025, the company said it meets all criteria for the Standard Market, including shareholder numbers, tradable shares, and tradable share ratio.