Feeds

Fujitsu execs take pay cut after Tokyo exchange crash

Humble apologies

Beginner's guide to SSL certificates

Fujitsu is to dock the pay of senior executives after the Japanese computer giant took the blame for a software glitch that forced the Tokyo Stock Exchange (TSE) to suspend trading earlier this month. The exchange was only able to operate for 90 minutes on 1 November due to bugs with a newly installed transactions system, developed by Fujitsu, which was supposed to help cope with higher trading volumes. The interruption in trading was the worst in the history of the exchange.

"Flawed instructions we received from Fujitsu regarding system improvements to its software seem to have caused the glitch," TSE spokesman Mitsuo Miwa told Reuters. The news agency reports that the exchange is yet to decide whether or not to sue Fujitsu over the outage. Nagoya Stock Exchange experienced a similar trading halt three days after the TSE glitch, which have also been traced back to Fujitsu software.

In a show of humility over the cock-up, Fujitsu's board has agreed to slash president Hiroaki Kurokawa's salary in half for six months, and levied pay-cuts of between 10 to 25 per cent on other senior executives including those running its financial systems division. Tokyo Stock Exchange has already imposed a similar set of pay cuts on its executives right down to slashing the monthly pay of President Takuo Tsurushima by half for six months. It's unclear if Fujitsu will plough the cost savings from its salary cuts into its own business or hand over the dosh to Tokyo Stock Exchange. ®

Remote control for virtualized desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.