Japanese stock listings have hit a 16-year low and the chances of improved activity look bleak as companies are put off making initial public offerings by volatile equity markets.

Just 30 IPOs worth $821.1m have been done this year, less than half the total value of listings in the same period in 2007, according to Thomson Reuters data. A single deal accounts for more than half this year’s total, the $485.3m IPO of Seven Bank.