Tokyo Stock Exchange Inc. President Takuo Tsurushima said Thursday it will be difficult for the TSE to list the company on the stock market by the end of the current fiscal year as planned.
He made the comments after the TSE's special advisory committee decided to recommend the bourse change its organizational structure to ensure fairness in its operations before going public.
"It should be decided at our shareholders' meeting next June, so we have no choice but to postpone the plan to go public during this fiscal year," Tsurushima said at a news conference, referring to the structural change.
Kenjiro Egashira, a University of Tokyo professor who heads the committee, said the committee decided to state that the TSE should retain both its market operations and its regulatory duties.
The committee will also propose that the TSE drop other alternatives, including one that the exchange transfer its regulatory functions to a new firm or operate under a new holding company, he said.