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May 2005

Update : Jun. 17, 2005

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TSE's 4th Annual Shareholders Meeting

It was decided at the board meeting held on May 17 that the 4th Ordinary General Meeting of Shareholders would be held on Wednesday, June 22, in the TSE Hall from 10am.

Changes in Executives

Changes in Executives

One of the items approved at the board meeting was the change among the board members. During deliberations in the Nomination and Remuneration Committee, as well as Nishimuro Taizo who had already been put forward as a candidate for Director, Executive Advisor of Toyo Securities Masahiro Wakita has been put forward as a candidate to become a Director, General Manager of TSE's Equities Department Shigeaki Itsuki and Executive Director of the Osaka Banking Association Satoshi Shibashi have been nominated for Standing Statutory Corporate Auditors, and Chartered Accountant and Visiting Professor of Waseda University's Graduate School Toshiaki Katsushima has been put forward as a non-statutory corporate auditor. Also, it was decided that the General Manager of TSE's Corporate Planning Department Hironaga Miyama would be put forward a candidate to become an Executive Officer.


Furthermore, current standing statutory corporate auditors Hiroshi Nakajima and Yuji Matsumoto, and non-statutory corporate auditor Seiichi Kato, will resign from TSE at the meeting.


In conjunction to these changes, from the standpoint of improving and strengthening internal supervision functions with regard to each Executive Ofsficer's responsibilities, their responsibilities between the operations division and the management division will be clearly divided.


Reforms in organizational structures

To further promote securities education and to secure its position as an international capital market as well as from the standpoint of further increasing the independence of the self regulatory function, TSE will create a Capital Markets Promotion Division which will be comprised of the newly established Public Relations and Global Business Development, as well as Listing Promotion which will be separated from the current Listing Division.


In doing this, the Listing Division will consist of the Listing Department and the Listing Examination Department, which will help further the independence of TSE's self regulatory functions regarding listed companies.


Other

The retirement bonus system for Directors will be discontinued following the June shareholders meeting.


The introduction of the new derivatives trading system and the accompanying development of the clearing system

TSE decided at the board meeting held on May 17 to implement plans for the new derivatives trading system as well as develop the clearing system to accompany the introduction of the new system. The new derivatives trading system will be brought in to improve functions by replacing the current system which is ageing after having been introduced 6 years ago for the trading of futures & options.


The planned new system is aimed at increasing capacities to supply information to trading participants as well as double processing capacities including matching and order & trade confirmation.


The development of the system and the move to a new data center should come to a total cost of 11.3 billion yen and the system should be up and running within the latter half of 2007.


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