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To: TFF who wrote (9746)	2/19/2002 12:54:57 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Tokyo Stock Exchange aims to go public in 2005/06 TOKYO, Feb 19 (Reuters) - The Tokyo Stock Exchange said on Tuesday it planned to list its own shares in the fiscal year starting in April 2005 to keep pace with its foreign peers as inter-exchange competition heats up around the globe. The TSE will follow the London Stock Exchange (quote from Yahoo! UK & Ireland: LSE.L), Europe's largest bourse, which listed on its own stock market last July, and most likely the U.S. Nasdaq, which is looking to become the first publicly traded U.S. exchange later this year. Several other exchanges, including the Australian Stock Exchange (Australia:ASX.AX - news) and Singapore Exchange , have also listed their shares on their respective markets. The Tokyo exchange accounts for nearly 90 percent of all stock trading in Japan, dwarfing its closest domestic rival, the Osaka Securities Exchange (OSE). The TSE became an incorporated entity in November 2001, a move that accelerated its decision-making and expanded its fund-raising options. The OSE de-mutualised in April and plans to go public by March 2004. The Tokyo bourse, capitalised at 11.5 billion yen ($86.66 million), issued 2.3 million new shares in November to member brokers at 10,000 yen a share. Under a mid-term business plan unveiled on Tuesday, the exchange said it aimed to generate a group operating profit of 4.8 billion yen in the year through March 2005. It also said it would trim its workforce by 100 to 730 by 2005/06 by curbing new hiring. TSE President and Chief Executive Officer Masaaki Tsuchida said in November he aimed to captain the bourse to a net profit in the current year to March. Yasuyuki Konuma, head of business development at the TSE, said that goal had not changed, but the slumping stock market and corresponding fall in trading volumes had taken their toll. The TSE is expecting an operating loss of 100 million yen this year. ($1 equals 132.68 yen)