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Tokyo Stock Exchange Group Inc. said Monday it will not appeal a lower court ruling ordering it to pay damages of around ¥10.7 billion to Mizuho Securities Co., saying an appeal would be time-consuming and counterproductive to its ongoing efforts to improve its trading system.

The operator of the Tokyo Stock Exchange was ordered by the Tokyo District Court on Dec. 4 to pay damages to Mizuho Securities because it bore responsibility in a botched trade in 2005 that cost the brokerage a huge amount of money.

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