Tokyo Bourse Names New President

The Tokyo Stock Exchange said on Tuesday that Atsushi Saito, former president of the Industrial Revitalization Corp. of Japan, the state-backed corporate turnaround body, will be its next president.

Saito, also a former executive of Nomura Securities, will replace current President Taizo Nishimuro on June 22.

Nishimuro replaced former TSE President Takuo Tsurushima, who resigned in 2005 along with two other directors to take the blame for system errors that interrupted trade on the bourse.