The Tokyo Stock Exchange on Wednesday officially elected Toshiba Corp. Chairman Taizo Nishimuro as its first chairman, following a shareholders' meeting.

"I will help keep the TSE from going down the wrong path," Nishimuro, who will assume his new job Monday, told a news conference. He will step down from his position at the electronics maker this week.

Nishimuro's main role will be to monitor the bourse's management. He will also chair meetings of the board of directors.

Asked about the TSE's plan to go public, Nishimuro said it is a logical conclusion given that the bourse encourages other companies to list their shares.