Shozo Ohta will be replaced by Nobuyuki Kinoshita (he is presently with Aflac Life Insurance Japan). Ohta’s departure and Kinoshita’s appointment will first have to be authorised by shareholders at the general meeting on the 26th of June. This announcement goes after a positive month of trading for TFX. The volumes significantly increased in FX as Japanese investors put their money into the Turkish Lira. Exept for an April dip in trading, driven by volatility shortering, the company has recommended itself well in 2018.
As supposed, Kinoshita will enter a company that does not need any crisis management but demands a reliable chief to provide it maintains its current performance levels. Kinoshita should be up to the task if mention his wealth of experience.
He has worked for the past four years in the Japanese division of American insurance giant Aflac. Within this period of time, he acted as senior advisor of the firm and was responsible for investigations and disseminating information on the Japanese financial system. Before this, Kinoshita was Secretary General of the Securities and Exchange Surveillance Commission (SESC). The SESC operates a regulator for the securities and futures markets in Japan.
The outgoing TFX CEO has been in the sphere of financial services for almost 50 years. He was employed since TFX in 2002, when the company was still known as The Tokyo International Financial Futures Exchange. He has kept his present function for about 10 years, having been appointed as CEO in 2009.