TSE president steps down over trading halt
NHK -- Dec 01
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.

News source: NHK
Jan 16
The operator of a number of izakaya pub chains in Japan says it is closing down about 20 percent of its outlets in Tokyo. It hopes to mitigate the impact of shorter business hours due to the coronavirus pandemic. (NHK)
Jan 16
The Japanese government declared a second state of emergency following a surge in coronavirus cases in Tokyo and three neighboring prefectures on Jan 7. (Japan Today)
Jan 16
Rising coronavirus cases are leading Central Japan Railway to take the unprecedented step of requiring thousands of employees to go on paid leave as passenger numbers drop sharply. (NHK)
Jan 15
Toyota will pay $180 million to settle U.S. government allegations that it failed to report and fix pollution control defects in its vehicles for a decade. (Japan Todayj)
Jan 15
Japan’s wholesale prices fell 2.0% in December from a year earlier on sliding fuel costs, data showed on Thursday, a sign that the hit to demand from the coronavirus pandemic is weighing on the world’s third-largest economy. (Reuters)
Jan 15
Fast Retailing Co.’s lineup of functional and casual attire continued to lure value-conscious shoppers whose preferences are changing in the midst of the COVID-19 pandemic, helping to push the Uniqlo operator’s first-quarter earnings close to an all-time high. (Japan Times)
Jan 14
Tokyo's benchmark stock index continued its rise on Thursday, buoyed by better-than-expected figures for machinery orders across Japan. The gains propelled the Nikkei Average to a fresh 30-year high. (NHK)
Jan 14
Following moves by its rivals, KDDI Corp. said Wednesday it will roll out new cut-price smartphone plans, further intensifying competition among mobile phone carriers under intense pressure from the government. (Japan Times)
Jan 14
Panasonic aims to make cobalt-free batteries available for Tesla's electric vehicles in two to three years, as the Japanese electronics manufacturer tries to keep pace with the U.S. automaker's ambitious mission to bring EVs into the mainstream quickly. (Nikkei)
Jan 14
Japan’s currency in circulation and bank deposits rose at a record pace in December, data showed on Wednesday, as a resurgence in coronavirus infections prompted companies and households to continue hoarding cash rather than spending it. (Reuters)
Jan 14
Elon Musk’s tweets have been known to drive big stock moves in everything from his own giant automaker Tesla Inc. to a tiny medical device firm that shared the name of his preferred messaging app. (Bloomberg)
Jan 13
Tokyo's benchmark stock index continues to be on a tear, hitting a 30 year-record high again on Wednesday. Semiconductor-related shares continued to climb as investors bet they'll be well-placed to weather the pandemic. (NHK)
Jan 13
A former employee of SoftBank Corp was arrested Tuesday for illegally taking information from the major Japanese wireless carrier on its ultrafast 5G technology before moving to a smaller rival company, police said. (Japan Today)
Jan 13
Amid high electricity demand due to unseasonably cold weather and tight liquefied natural gas supply, Japan is scrambling to prevent a national blackout by calling on power companies to generate more and the public to use less. (Nikkei)
Jan 13
A former SoftBank Corp. employee has been arrested on suspicion of illegally disclosing 5G trade secrets to his new employer, Rakuten Mobile Inc., as it was preparing to launch its own mobile network. (Japan Times)
Jan 11
Japan is considering extending a state of emergency from the Tokyo metropolitan area to other regions as novel coronavirus cases increase but that could raise the risk of a double-dip recession for the world's third-largest economy. (Japan Today)
Jan 11
Japan’s imports of spaghetti, which is easy to cook, hit a record high in 2020, apparently due to people refraining from going out amid the novel coronavirus crisis. (Japan Times)
Jan 08
Over 80,000 people have been dismissed or seen their employment contracts terminated rather than renewed in Japan for reasons related to the COVID-19 pandemic since it began, the labor ministry said Thursday. (Japan Times)
Jan 08
Japanese business leaders said Thursday support will be necessary for struggling firms under a second state of emergency over the novel coronavirus in Tokyo and three neighboring prefectures, while they viewed the decision as inevitable due to resurging infections. (Kyodo)
Jan 08
Honda Motor will reduce vehicle production due to a supply crunch in semiconductors, Nikkei has learned, a sign that a pandemic-spurred global shortage is threatening the auto industry. (Nikkei)