Top management of JPX and TSE will accept compensation cuts after regulatory action related to law violation by former employee.

On December 23, 2024, Japan Exchange Group, Inc. (JPX) and its subsidiary Tokyo Stock Exchange, Inc. (TSE) received a reporting order from the Financial Services Agency (FSA) based on Articles 106-27 and 151 of the Financial Instruments and Exchange Act concerning the case announced on the same day in “Formal Accusation of JPX Group Former Employee by Securities and Exchange Surveillance Commission”.

The case involved a violation of the Financial Instruments and Exchange Act (information transmission) by a former employee.

Today, JPX and TSE submitted the report in response to said order to the FSA. Furthermore, JPX and TSE have clarified the locus of responsibility for the incident.

Based on the fact that this incident occurred and the receipt of the order, JPX and TSE will take a set of disciplinary actions, including compensation cuts.

(JPX)

• Yamaji Hiromi Director & Representative Executive Officer, Group CEO:

50% reduction in monthly compensation for two months

(TSE)

• Iwanaga Moriyuki President & CEO:

50% reduction in monthly compensation for two months

• Ao Katsumi Director and Senior Executive Officer:

20% reduction in monthly compensation for two months.