Takhakito Tokita (Takahito Tokita)

Takhakito Tokita (Takahito Tokita)

Biography

2020: Salary reduction for 50% for failure at the Tokyo exchange

At the beginning of December, 2020 it became known of salary reduction of the president of Fujitsu Takakhito Tokita for 50% for a period of four months. Such decision was made after on October 1, 2020 in a computer system of Tokyo Stock Exchange which uses the equipment of the company there was a large-scale failure.

We once again apologize for the fact that we caused big problems, said in the press release of Fujitsu. - We will work with Tokyo Stock Exchange to be convinced that measures are taken for prevention of repeated failure.

The Japanese company reported that to four more heads, including the vice president Hidenori Furut, will also reduce the monthly salary by 10-30% for the same period.

The declaration of salary reduction was made after the serious stop of biddings on Tokyo Stock Exchange shook investor confidence and forced the president of the exchange Koitiro Miyakhar to resign at the beginning of December, 2020.

The interruption in work struck blow to efforts of the prime minister Yoshihide Suga to strengthening of positions of Japan in the world as financial center. The agency of financial services of Japan issued to the operator of the exchange the order about business improvement.

The software of Arrowhead developed by Fujitsu debuted in 2010, thanks to this solution time of processing of transactions reached 5 milliseconds - at the level of the New York and London stock exchanges of that time. In November, 2019 a system was upgraded and as of fall of 2020 is capable to process orders approximately for 0.2 milliseconds.

Arrowhead does not need serious updating, except for elimination of a uniform point of failure now, - Eyitiro Yanagava, the senior analyst of Celent consulting firm from Tokyo told. - The task is in how to reduce a downtime, and it means that not only improvement of the equipment, but also the software, people and business operations will be required. This problem - complexity, and its solution - a problem for all market participants.[1][2]

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