Japan

TOKYO, Japan (Reuters) -- The Tokyo Stock Exchange has announced the resignation of its president after a series of troubles raised concern about the dependability of transaction systems at Asia's largest bourse.
TSE President Takuo Tsurushima, 67, will resign, along with two other directors, on Tuesday and Chairman Taizo Nishimuro will double as president from Wednesday, the TSE said, following a regular board meeting held earlier in the day.
Earlier month, the TSE, the world's second-biggest bourse, admitted that trouble with its stock trading system, developed by Fujitsu Ltd., had contributed to a huge blunder by Mizuho Financial Group Inc. unit Mizuho Securities.
Mizuho Securities mistakenly offered 610,000 shares in recruitment firm J-Com Co. Ltd. at 1 yen each, instead of the intended one share at 610,000 yen, costing the brokerage about 40.5 billion yen ($349 million).
The order represented more than 40 times the number of J-Com's outstanding shares.
Japan's Financial Services Agency last week ordered the TSE to improve operations by taking steps to prevent a repeat of the Mizuho-related glitch and to clarify responsibility for the problem.
Last month, a system failure halted trading at the exchange for almost a full day, fanning concerns that it may be straining under the heavy increase in volume that has accompanied the Japanese share market's recent surge to five-year highs.
Tsurushima took the helm of the exchange in April last year, becoming the first non-bureaucrat in nearly four decades to clinch what is usually a position held by retired Finance Ministry officials.
Nishimuro, 69, became TSE chairman on June 27, giving up the chairmanship of electronics maker Toshiba Corp.
His appointment was aimed at reinforcing Tsurushima, who lacks overseas experience, at a time when the bourse wants to raise its global presence by going public and seeking more listings from companies based elsewhere in Asia including China.