TSE Demutualizes Into A Stock Company

Tokyo Stock Exchange, Inc., in an effort to increase the transparency of its management and build an organization with greater vitality and a more positive business attitude, has demutualized effective November 1, 2001.

The following people are charged with the responsibility of guiding Tokyo Stock Exchange, Inc. as it moves to solidify its position as one of the premier markets of the 21st century.

Board of Directors

Masaaki Tsuchida, President & CEO
Yoshimasa Yamashita, Executive Vice President & CFO
Sakutaro Kimbara , Senior Managing Director & Executive Officer
Sadao Yoshino, Managing Director & Executive Officer
Kikuo Kagoshima, Managing Director & Executive Officer
Junichi Ujiie, Member of the Board
Hiroshi Okuda, Member of the Board
Nobuo Tateisi, Member of the Board
Hitoshi Maeda, Member of the Board
Hisashi Moriya, Member of the Board
Yotaro Yasu, Member of the Board

Auditors

Hiroshi Nakajima, Standing Statutory Auditor
Yuji Matsumoto, Standing Statutory Auditor
Seiichi Kato, Statutory Auditor
Koji Shindo, Statutory Auditor

Executive Officers

Masaaki Tsuchida, President & CEO
Yoshimasa Yamashita, Executive Vice President & CFO
Sakutaro Kimbara , Senior Managing Director & Executive Officer
Sadao Yoshino, Managing Director & Executive Officer
Kikuo Kagoshima, Managing Director & Executive Officer
Atsuo Nishihara, Managing Director & Executive Officer
Takushi Shimoda, Managing Director & Executive Officer
Yasuo Tobiyama, Executive Officer
Eisuke Nagatomo, Executive Officer