noun
unlisted stocks; over-the-counter stocks
Refers to stocks not listed on a formal exchange; traded over the counter. Common in financial contexts.
場外株は証券取引所に上場されていない株式です。
Unlisted stocks are shares not listed on a stock exchange.
上場株 refers to listed stocks traded on a formal exchange, while 場外株 are unlisted or over-the-counter stocks.
Compound of 場外 (outside the market) and 株 (stock). The term directly describes stocks traded outside formal exchanges.