TSE Glitch Dampens Suga's Centerpiece Policy

Politics

Tokyo, Oct. 2 (Jiji Press)--The computer system glitch that caused a halt to trading in all stocks listed on the Tokyo Stock Exchange on Thursday has thrown cold water on efforts by the administration of Japanese Prime Minister Yoshihide Suga to promote the digitalization of society.

Suga is working on an initiative to establish an agency for the digitalization of public administration and to unify related systems used respectively by central and local governments.

His administration faces the challenge of preparing for unexpected system problems at a time when the full-day trading halt on the TSE has revealed the vulnerability of digital technology. The TSE resumed trading on Friday, but attention is now focused on how it will stabilize market functions after the sudden shutdown.

Chief Cabinet Secretary Katsunobu Kato stressed at a news conference on Thursday afternoon that the system failure "leads to the restriction of trading opportunities for investors and is very regrettable."

The Financial Services Agency should fully examine steps by the TSE to identify the cause of the glitch and prevent a recurrence, Kato said in a stern tone.

[Copyright The Jiji Press, Ltd.]

Jiji Press