TOKYO BOURSE CEO RESIGNS OVER OCT. 1 OUTAGE

Tokyo Stock Exchange Inc. President and CEO Koichiro Miyahara stepped down Monday to take the blame for a full-day outage at the bourse last month, a source with knowledge of the matter said, Kyodo news service reported.

His resignation was announced later in the day in a press conference by Akira Kiyota, CEO of Japan Exchange Group Inc., TSE's parent company, Mainichi Shimbun also reported.

In the same press conference, Japan's financial watchdog announced a business improvement order to Tokyo Stock Exchange and its parent company.

While the October 1 outage prompted Miyahara’s resignation, the failure of public officials to restore water or electrical services in quake-hit cities in Japan, as well as in Fukushima, has prompted some of those officials to commit suicide rather than live in shame.