Is the Tokyo Stock Exchange open on February 23?

No. On the Japan market holiday February 23 for Emperor’s Birthday Japan, the Tokyo Stock Exchange is closed for cash trading. Continuous auctions and the closing auction do not run, and most listed cash instruments, including ETFs, pause until the next business day.

Do settlements and corporate actions get delayed?

Yes. When cash markets pause for the Japan market holiday February, settlement rolls to the next business day under standard cycles. Corporate actions dependent on exchange processing, like dividends, rights, or buyback executions, typically move to the following trading day after markets reopen.

Will liquidity be lower during Tokyo hours?

Often yes. With Tokyo cash markets paused for Emperor’s Birthday Japan, Asia-Pacific liquidity can thin and spreads may widen. Price discovery can rely more on offshore trading, so use limit orders and monitor indicative prices if you must transact during the local holiday window.

How should investors prepare for February 23?

Submit or update orders in advance, align JPY funding and collateral, and note that exchange notices may post after the break. The Japan market holiday February also means confirmations and statements tied to Tokyo timestamps can shift to the next business day. Document any temporary valuation variances.

Law and Government

Japan Markets Holiday February 23: Emperor’s Birthday Impact

ByDanny Kontos February 23, 2026February 23, 2026

The Japan market holiday February marks Emperor Naruhito’s 66th birthday on February 23, a Japan public holiday. With Tokyo Stock Exchange closed and the JGB cash market shut, cash trading pauses and settlement rolls to the next business day. Asia-Pacific liquidity can thin during Tokyo hours, which may widen spreads and reduce depth. We outline what closes, how pricing can shift, and practical steps to manage orders, funding, and timelines around this date so investors avoid surprise slippage or delays.