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.

Hakamada Case Ends With Acquittal After 58 Years

The Hakamada case, a decades-long legal struggle, ended with an acquittal for Iwao Hakamada (88), who, along with his sister Hideko, fought for 58 years. Hakamada was suspected of the 1966 murder of a miso company executive’s family.

Japan launches information-gathering satellite on H2A rocket

A Japanese government information-gathering satellite has successfully been put into a planned orbit around Earth. (NHK)

New Red Lights for Japan's Police Cars

Japan's National Police Agency is introducing new patrol cars equipped with red lights designed to assist people with hearing impairments, flashing differently depending on whether the vehicle is on an emergency run or a routine patrol.

Over 300 New Geoglyphs Discovered by Yamagata University in Nazca

Yamagata University, which has been conducting research on the Nazca geoglyphs in Peru, announced the discovery of over 300 new geoglyphs, depicting a variety of subjects, including humans and animals.

University of Tokyo Raises Tuition Fees for First Time in 20 Years

The University of Tokyo has officially decided to increase tuition by approximately 110,000 yen for incoming undergraduate students starting next academic year, bringing the total to 642,960 yen.

MEDIA CHANNELS

MORE Society NEWS

Australia nabs four Japanese for smuggling cigarettes

Four Japanese men have been caught at an Australian airport on suspicion of trying to smuggle a large amount of cigarettes into the country. (NHK)

Former 'Breaking Down' Representative Arrested in Fake Investment Scheme

The former representative of the martial arts event company 'Breaking Down,' Yugo Itagaki, along with two other individuals, has been arrested by the Tokyo Metropolitan Police on charges of defrauding a company executive out of 80 million yen.

Woman in Floral Mini-Skirt Targets Zoo Outlets with Mysterious Tape

Strange incidents involving a woman placing black tape on outlets have been occurring around zoos in the Izu area of Shizuoka Prefecture.

Japanese Households with Buddhist Altars Has Drastically Decreased

As the number of households with Buddhist altars continues to decline, largely due to space limitations in modern housing, wholesalers of Buddhist goods are struggling with unsold inventory.

Twelve Referred to Prosecutors for Alleged Abuse at Kuwana Festival Horse Event

Twelve individuals involved in the traditional 'Ageuma Shinji' horse event held last year at Tado Shrine in Kuwana City, Mie Prefecture, have been referred to prosecutors on allegations of violent behavior toward horses, including forcing them up steep slopes.