Bloomberg reports that Atsushi Saito, president of the Tokyo Stock Exchange, is warning Japan’s newly elected government against “excessive and irrational” financial regulation that could hurt the market.
Speaking to Bloomberg, Saito says that the exchange will closely work with incoming Prime Minister Yukio Hatoyamo, whose Democratic Party of Japan emerged victorious in the Aug. 30 elections. Saito has pledged to keep the new government informed of the global finance environment.
“We hope the new government can be very flexible and very rational-minded,” Saito told Bloomberg. “If they are reasonable, regulations can be necessary.”
According to Bloomberg, the Tokyo exchange has stepped up efforts to improve corporate accountability in Japan, and has called for better governance to attract capital to the country’s equity markets.