Tokyo Stock Exchange Group Inc. said Tuesday it will delay going public until after 2010 due to deteriorating business conditions and slumping equity markets.
TSE President Atsushi Saito said separately that the company will carry out executive pay cuts of up to 30 percent as it anticipates a group pretax net loss of ¥7 billion for the year ending this month due to losses on its shareholdings.
The operator of the TSE had originally intended to go public later this year but decided it would not be able to secure enough funds by its market debut at a time when trading volumes have shrunk sharply as foreign investors pull out cash amid the market turmoil.