IFC and TSEG to Develop Corporate Governance, Information Technology in Emerging Markets

published by The Global Corporate Governance Forum, August 22nd, 2011.

Tokyo, Japan, August 22, 2011—IFC, a member of the World Bank Group, and the Tokyo Stock Exchange Group Inc. (TSE Group) have signed a Memorandum of Understanding to cooperate in developing capital markets in emerging economies, helping protect investors through better corporate governance, ensure fair markets, and spur economic growth. The MOU was signed by Hideaki Suzuki, Director of the IFC Tokyo Office, and Koichiro Miyahara, Senior Executive Officer of TSE Group.

IFC and TSE Group aim to improve the operation and regulatory framework of these markets by sharing knowledge and expertise in developing information technology infrastructure and implementing corporate governance codes for listed companies.

Strong corporate governance standards and market infrastructure contribute to raising companies’ performance and investors’ confidence, helping to bring much-needed capital for growth,” said Rachel Kyte, IFC Vice President for Business Advisory Services. “IFC has more than a decade of experience implementing corporate governance projects. We welcome this new partnership with the TSE Group to harness our combined expertise in building capacity and developing infrastructure for emerging capital markets.”

IFC will collaborate with the TSE Group through its Global Corporate Governance Forum, a multi-donor trust fund. The Forum partners with international, regional, and local institutions to promote the private sector as an engine of growth, reduce the vulnerability of emerging markets to financial crises, and provide incentives for corporations to perform in an efficient, transparent, sustainable, and socially responsible manner.

“As one of the leading stock exchanges in the world, the TSE Group’s expertise in market operation and information technology in trading systems will be extremely useful to developing countries. I believe our efforts to enhance the quality of these emerging capital markets and improve the corporate governance of listed companies will also be highly appreciated by market participants,” said Koichiro Miyahara.

TSE Group is the holding company of Tokyo Stock Exchange, Inc. (TSE), best known for its equities market, valued at $3.81 trillion as of the end of July 2011. It also boasts the largest market for Japanese securities derivatives such as Japanese Government Bonds and TOPIX (Tokyo Stock Price Index) futures. For more information, visit www.tse.or.jp/english


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