The head of Nasdaq's international operations reiterated Monday that the prolonged domestic slump was behind Nasdaq Stock Market Inc.'s decision to pull out of Japan.
"The tough and unfortunate decision (to withdraw from Japan) was caused by conditions beyond our control," John Hilley, chief executive of Nasdaq International Inc., said during a news conference in Tokyo.
On Friday, Nasdaq said it will withdraw from the Nasdaq Japan Market, which it set up in partnership with the Osaka Securities Exchange and Softbank two years ago -- just as the U.S. tech bubble was beginning its implosion.