JPX Cuts Executive Pay over Insider Trading by Ex-TSE Worker

Tokyo, Jan. 30 (Jiji Press)--Japan Exchange Group Inc., which operates the Tokyo Stock Exchange, said Thursday that Group CEO Hiromi Yamaji will take a 50 pct cut in monthly compensation for two months over an insider trading case involving a former TSE employee.

TSE President and CEO Moriyuki Iwanaga will also face a 50 pct compensation cut for two months.

TSE Senior Executive Officer Katsumi Ao will take a 20 pct compensation cut for two months, while Koji Watanabe, head of the TSE's Listing Department, was issued a stern warning.

The exchange operator also announced measures to prevent recurrences, including limiting the people who can view undisclosed information to employees directly working with the information and managers.

"I apologize again for the great inconvenience we have caused to market participants," Yamaji said at a press conference. "I will lead recurrence prevention efforts."

[Copyright The Jiji Press, Ltd.]