Katsuya is Nasdaq Japan president

Mumbai: The board of directors of Nasdaq Japan (www.nasdaq-japan.com) has approved Yoshiro Katsuya's election to the board and his promotion to president and Tatsuyuki Saeki's promotion to chairman. Katsuya's appointment is expected to be formally approved following a shareholders' meeting on 25 January, according to a Nasdaq press release.

In his new position, Katsuya will be responsible for the day-to-day running of Nasdaq Japan and for developing and maintaining relationships with securities firms, industry and business partners, and the Osaka Securities Exchange.

Tatsuyuki Saeki will remain as chief executive officer and be elected to chairman. He will continue to play a central role in the ongoing growth of the business, concentrating on building, developing and maintaining relationships with existing and prospective listed companies. In addition to a key role in mentoring and developing Nasdaq Japan's sales team, Saeki will have the responsibility for strategic initiatives for Nasdaq Japan.

"With Nasdaq Japan's extraordinary growth, there's now scope to split the roles of president and CEO to leverage fully the talents of both individuals," said Nasdaq International chairman and CEO John Hilley.

"This appointment will enable Katsuya to concentrate on enhancing relationships with our partners in the securities industry, while Saeki continues to focus his strengths on bringing dynamic, innovative companies to list on our market and planning for the future of Nasdaq Japan. This winning combination will allow us to provide an even better level of service to our issuers, investors and business partners," he said.

Katsuya, currently executive vice-president and chief market operations officer, joined Nasdaq Japan in June 2000 after a 26-year career at the Nikko Securities Company where he gained extensive securities experience, particularly in equity sales and trading, in both domestic and international assignments. Katsuya, 50, received his BA degree in economics from Keio University in 1974.

Nasdaq Japan, which operates the Nasdaq Japan Market, is a private, for-profit organisation owned by the Nasdaq Stock Market, Softbank and 13 leading securities firms. The Nasdaq Japan Market, which debuted on 19 June 2000, is a section of the Osaka Securities Exchange and has 82 listed companies.