Feeds

Fujitsu execs take pay cut after Tokyo exchange crash

Humble apologies

Secure remote control for conventional and virtual desktops

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.