Japan Exchange Group: Business Improvement Orders On System Failure And Clarification Of Locus Of Responsibility

We deeply apologize again for the inconvenience caused to investors and other market users due to the system failure on October 1, 2020.

Today, the Financial Services Agency of Japan (FSA) issued business improvement orders regarding the system failure to Japan Exchange Group, Inc. (JPX) and its subsidiary Tokyo Stock Exchange, Inc. (TSE), as described in 1. below. JPX and TSE have clarified the locus of responsibility for the incident as described in 2. below.

We take the orders from the authorities with utmost seriousness and will respond in good faith. We will make every effort to prevent a recurrence of the incident in order to build speedier and more appropriate recovery procedures, including (i) system responses and comprehensive checks, (ii) enhancement of procedures for failsafe implementation of trading suspensions, and (iii) development of rules for trading suspensions and resumptions, while placing importance on "Resilience".

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