Tokyo Commodity Exchange (Tocom or "the Exchange") held its first annual meeting of shareholders and board of directors meeting today, where Tadashi Ezaki, Special Advisor, has been elected as the new President & CEO effective on the same day.
The former President & CEO, Masaaki Nangaku, accepted his new office as Senior Executive Adviser.
Mr. Ezaki joined the then Ministry of International Trade and Industry (MITI, presently the Ministry of Economy, Trade and Industry) in 1965 after graduating from Tokyo University with a degree in law. Since becoming Deputy Director of the Commerce and Information Policy Bureau in 1980, he acquired a rich expertise in the commodity futures market by supervising the development of the market, including the launch of a gold future contract, TOCOM's main product today. He also gained a deep insight into finance thanks to his career path as a Director of the Industrial Policy Bureau at MITI, an Adviser for Nomura Research Institute, Ltd and as President of the Shoko Chukin Bank. Energy and the precious metal industry are the areas of expertise he has cultivated as Director-General of the Agency of Natural Resources and Energy.
At his appointment as President & CEO, Mr. Ezaki made the following comments: "My mission is to further pursue TOCOM's business strategies in line with our Midterm Management Plan and to enhance the function of the Exchange by improving the reliability and convenience of our markets for participants, which ultimately will lead to a higher corporate value. Through these efforts, we will firmly position ourselves as a primary derivatives exchange in Asia, and eventually as one of the preeminent exchanges in the world. This presidency mantle is truly challenging, but also rewarding. I think that we can achieve our goals by making the necessary efforts." Under the leadership of Mr. Ezaki, TOCOM is committed to make the recovery of market liquidity a priority, leading to the expansion of TOCOM's commodity futures markets.