The Tokyo Stock Exchange on Tuesday held its first shareholders’ meeting following its transformation in November from a nonprofit membership organization of brokerages into a stock company.

The meeting began at 10 a.m. and lasted for 35 minutes as there were no controversial issues on the agenda, TSE officials said.

Of the 114 shareholders, most of which are brokerages eligible to trade on the TSE, 94 attended the meeting and approved all agenda items, including a proposal to skip yearend dividend payments.

The TSE management discussed the company’s earnings for 2001, in which pretax profits fell 56 percent from the year before.

The company posted net profits of some 2.8 billion yen for the year, but will keep these profits as retained earnings to strengthen its management base, the officials said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.