The chief of the Tokyo Stock Exchange expressed his revolve Tuesday to boost the bourse's appeal to investors.
"We will strive to offer attractive opportunities for investment and fundraising, while creating an environment easier (for market participants) to take on risks," TSE President Atsushi Saito said during a ceremony marking the first trading day of 2011.
"It's clear that measures to stimulate domestic demand in the past two decades haven't succeeded in bringing about sustainable growth," Saito said, adding that continuously crafting new business models will be "the only way" for Japan to achieve that goal.
He said concluding free-trade agreements with other economies would be a great opportunity for Japan to drastically change its industrial structure.
At the ceremony attended by market participants, financial services minister Shozaburo Jimi wished for a good year, saying, "The Year of the Rabbit is the year of jump, so let's make the best of it with confidence."
A similar ceremony was held at the Osaka Securities Exchange, attended by some 260 market participants.
OSE President Michio Yoneda said the bourse will "play its role with strong determination and conviction" as the government is considering the creation of a comprehensive market for securities and commodities, indicating willingness to turn the OSE into such an exchange.