The Financial Services Agency indicated Wednesday it is leaning toward rejecting financier Yoshiaki Murakami's application to acquire a more than 20 percent stake in the Osaka Securities Exchange Co., due to a conflict of interest.
Noting that Murakami's fund also invests in other stocks listed on the bourse, an agency official said in a public hearing that the soundness of the OSE's operations could be adversely affected if his company acquires a greater stake in the OSE.
If the agency gave its approval, Murakami's fund might decide to acquire a 50 percent stake in the OSE, effectively taking control of the bourse's management, the agency official said.
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