New TSE head pledges to regain trust

The new head of the Tokyo Stock Exchange has pledged to give top priority to restoring investor trust in the bourse after system trouble halted trading for an entire day last October.

Yamaji Hiromi became the new TSE president and CEO on April 1.

Speaking to NHK and other media outlets, Yamaji said what is most required for the bourse is to provide opportunities for selling and buying shares on a just and fair basis.

He said enhanced trust and stable market operations are the prerequisites that must be met to that end, above anything else.

The system failure caused a full-day halt of trading on October 1.

An investigation panel of outside directors found that the exchange was not fully prepared because it put too much emphasis on its slogan to "never stop."

Yamaji said the bourse will make the utmost efforts to ensure that trading continues without interruption, but it still could be suspended. He said what counts is how quickly operations can be resumed in such a situation.

He indicated that the exchange will follow the procedures that have been drawn up for restarting trading in the event of a problem.

Yamaji was also asked if the bourse will review its support for Myanmar's stock market amid the military crackdown on anti-coup protesters.

He answered that he will consider various things in line with the Japanese government's moves. He said it's necessary to closely watch the developments.