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Takuo Tsurushima, who became the new president of Tokyo Stock Exchange Inc. on Thursday, said he will do his utmost to list TSE stock on Japan’s largest bourse in fiscal 2005 and bolster its international competitiveness.

Tsurushima said the challenges facing the TSE are preparing for its listing in fiscal 2005, strengthening its competitiveness against rival markets abroad and reinforcing its supervisory functions.

“The weight of responsibility I feel on my shoulders is so heavy. I would like to make full use of my 40 years of experience and knowledge in dealing with securities,” Tsurushima said at his inaugural news conference.

The inauguration of Tsurushima, 66, marks the first time that a former TSE official has become president, breaking the tradition of former bureaucrats presiding over Japan’s largest bourse.

It is also the first time in 43 years that a nonbureaucrat has been selected.

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