TSE president steps down over trading halt

Dec 01 (NHK) - The head of the Tokyo Stock Exchange has stepped down to take responsibility for a recent trading halt.

The move by TSE President and CEO Miyahara Koichiro follows a technical glitch that stopped trading for a full day on October 1.

The resignation was announced on Monday by Kiyota Akira, the CEO of the TSE's parent firm, Japan Exchange Group. The departure takes effect immediately, and Kiyota will assume the post for the time being.

Kiyota himself will take a 50-percent pay cut for four months to take responsibility for the outage. Other executives will also have their compensation reduced.

The announcement came after the Financial Services Agency issued a business improvement order to the TSE and the group earlier in the day.

The agency told them to take thorough measures to prevent a recurrence. An inspection by the agency found defects in the exchange's internal management.

The TSE says the outage was caused by a hardware problem and a backup-system failure.

The exchange had no rules in place to quickly restart trading in such a situation. It was the first day-long stoppage since trading was fully computerized in 1999.

The exchange group has been criticized for failing to prevent the incident at a time when the government wants to create an international financial hub in Japan.

Takaichi Elected as Japan’s First Female Prime Minister

Japan’s Diet elected ultraconservative Sanae Takaichi as the country’s 104th prime minister on October 21st, making her the first woman to lead Japan and signaling a sharp shift to the right following a turbulent political season marked by party upheavals, coalition realignments, and public frustration over economic stagnation.

Typhoon No. 24 (Fung-shen) Strengthens Over South China Sea, Heavy Rain Forecast For Japan

Typhoon No. 24 (Fung-shen) is strengthening over the South China Sea and is expected to make landfall in Vietnam later this week, according to forecasts. Satellite images on October 201st show extensive cloud coverage over the central South China Sea. After passing over the Philippines, Fung-shen temporarily weakened but is projected to intensify again as it continues westward through Tuesday.

Tourist Graffiti Threatens Kyoto’s Iconic Bamboo Forest

Kyoto’s world-famous Arashiyama district, a popular destination for both domestic and international tourists, is facing a growing problem of graffiti etched into the bamboo along its iconic “Bamboo Grove Path,” with more than 350 stalks now damaged — a practice that experts warn could eventually cause bamboo to weaken, fall, and even injure visitors.

Japanese Streaming Services Struggle Against Netflix

Japan’s streaming industry is under growing pressure as foreign giants tighten their grip on the domestic market, with Netflix’s latest move to secure exclusive broadcast rights in Japan for every game of the World Baseball Classic next March highlighting the widening gap.

Japan Tightens Rules on Foreign Business Visas

Investigators from the Immigration Services Agency conducted on-site inspections in Osaka on October 14th amid a surge in so-called 'paper companies' created by foreign nationals seeking residency.

MEDIA CHANNELS

MORE Society NEWS

Mako Komuro Appears in Six-Page Town & Country Feature

The October issue of the long-established American lifestyle magazine Town & Country features Mako Komuro, the eldest daughter of the Akishino family, on the cover under the headline "Princess Ingognito," dedicating a six-page spread to Komuro and her husband Kei, exploring their life in the United States.