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What Is Tick Size (Yobine)?

Tick size is the minimum price increment that can be specified when placing a stock order.

How it works

For example, the tick size might be 1 yen for stocks priced at 3,000 yen or below, and 5 yen for stocks priced above 3,000 yen up to 5,000 yen — different increments are set for different price levels. A limit order can only be placed in these fixed increments.

Relationship to the daily price limit

Tick size determines how finely a price can be specified within a single order, which is a different mechanism from the daily price limit (see related page), which sets the upper and lower bounds on how far a price can move in one day.

This article is provided for general informational purposes only and does not recommend or solicit the purchase or sale of any specific investment method or security. Final investment decisions are your own responsibility.

Frequently Asked Questions

Is the tick size the same for every stock?
No. Tick size is set in stages according to a stock's price level, with the increment generally getting larger as the price gets higher.
Where can I check a stock's tick size?
The Tokyo Stock Exchange (TSE) publishes rules on tick sizes. The tick size for an individual stock can usually also be checked on a brokerage's trading screen.

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