| Michio Yoneda, OSE's President & CEO |
Firstly, I'd like to express deep appreciation for your cordial friendship for Mr Goro Tatsumi, our former President and CEO who passed away at the end of last year.
Faced with Mr Tatsumi's sudden passing, last year turned out to be a tumultuous year, but at the same time, it was a year when we took new initiatives such as the filing of a listing application for the Exchange and so on.
For three and a half years since Mr Tatsumi's assumption, he allowed a revolution of privatization of the Exchange, introducing ETFs, venture fund market, etc., accomplishing demutualization of the Exchange, thoroughly unravelling the issues regarding affiliated companies, positively addressing the matters related to its labor union. We all are fully determined to follow and further develop the way of revolution Mr Tatsumi put forward.
The stock market was back on course for recovery last year; however, there remain various distortion or problems in the market. We should say that the market is still far from vitalization in fact.
In order to revitalize the Japan's stock market in the true sense, nothing is more important than to establish a highly efficient market through friendly competition. We must prevent markets from excessively concentrating in Tokyo by any means, since it counters interests of investors who is a central player of the market, listed companies and securities companies.
Under these circumstances, the roles OSE should play matter more and more. Based on this firm belief, we'll devote ourselves to further strengthening our cornerstone, that is, our self-regulatory function, to enhance the convenience of our market function, and to pursue the transparency, fairness and efficiency of the market.
We'll realize our missions in two core fields this year.
First one is derivatives trading, especially, the Japan's leading products, Nikkei 225 Futures and Options. We'll make the derivatives market more user-friendly.
The other is Hercules. We'll encourage people across the nation appraise the worth of Hercules, and also allow to get into shape "Concept of network through venture markets" proposed at the Sakaiya Advisory Committee last year.
Nurturing progressive spirit, we'll develop new products including REIT, venture fund, and some other funds, and also Asian stocks other than such objectives.
Finally, we'll greatly appreciate your kind support and understanding in the way of revolution the Exchange will go this coming year, and wish you all a happy and prosperous New Year.
