Guest Speaker: Atsushi Saito, Japan Exchange Group (JPX)
Atsushi Saito, CEO of the Japan Exchange Group, was a guest speaker in Professor Tom Ito's Applied Corporate Finance class on April 15. The Japan Exchange Group was established on January 1, 2013, as a result of the merger between the Tokyo and Osaka stock exchanges.
After an hour-long discussion with students focused on the issues surrounding parent/subsidiary listings and the responsibility of management towards minority shareholders led by Professor Ito based on the NEC Electronics case, Mr. Saito had a one hour discussion and Q&A session with the students on corporate governance in Japan, how Japanese corporate will benefit from stronger corporate governance, how management should deal with short term oriented investors etc.
Before becoming CEO of the Tokyo Stock Exchange in 2007, Mr Saito ran the Industrial Revitalisation Corporation of Japan (IRCJ), a Japanese government agency created in 2003 to reform troubled Japanese companies. He succeeded in some high profile restructurings such as those of Daiei and Kanebo. Before the IRCJ, he spent most of his career at Nomura Securities, where his last position was Executive Vice President.