Group CEO Message

Five years have passed since Tokyo Stock Exchange Group and Osaka Securities Exchange merged to form JPX.

At the time of its establishment, JPX set out to become the most preferred exchange in Asia. To realize this goal, as the operator of a core infrastructure for the Japanese capital market, JPX must continue to offer reliable, highquality services while constantly adapting to satisfy the increasingly diverse and complex needs of its market users. As such, we take a medium- to long-term view toward responding to the expectations of global investors and listed companies.

From this perspective, JPX formulated its 2nd Medium-Term Management Plan for fiscal years 2016 to 2018 in March 2016. In the plan, we clearly state that, to promote the sustained development of the market, JPX will pursue a business portfolio comprised of three main elements, namely the cash equity markets, derivatives markets, and new businesses. To this end, JPX will demonstrate and leverage the competencies across its corporate group that were strengthened through business integration, and aggressively pursue new business.

A series of developments has been fueling uncertainty in the global economy and clouded the outlook for the Japanese economy. Considering the current environment, JPX cannot afford to rest on its achievements. We will be reviewing our rules, expanding and improving our products and services, and working to improve financial literacy to help individual investors build their assets. In doing so, the corporate group will pull together to rise to the next level.

Needless to say, we cannot achieve sustainable market development alone, without the understanding and cooperation of market participants, including domestic and foreign investors, listed companies, and securities companies, as well as the regulatory authorities and the entire private sector. We hope to enjoy your continued support and join us in taking the next step forward.

Akira Kiyota

Director & Representative Executive Officer, Group CEO

Japan Exchange Group, Inc.