Japan Exchange : Candidates for Directors, Executive Officers, etc.

[Translation]

April 28, 2014

Company Name: Japan Exchange Group, Inc.

Name of Representative: Atsushi Saito, Director & Representative

Executive Officer, Group CEO (Code No.: 8697, TSE 1st Section)

Inquiries: Corporate Communications

(TEL: [phone])

Candidates for Directors, Executive Officers, etc.

We hereby announce that Japan Exchange Group, Inc. (JPX) has nominated candidates for directors, executive officers, etc. (hereafter collectively "officers") at the meeting of the nomination committee held on April 18 and the meeting of its board of directors held today. We also announce that JPX subsidiaries Tokyo Stock Exchange, Inc., Osaka Exchange, Inc., and Japan Exchange Regulation have nominated candidates for officers at their respective board of directors and board of governors meetings held today. JPX and its subsidiaries will put forth the following officer candidates for approval at their respective annual general shareholders meetings and general meeting of members to be held on June 17,

2014 as well as their subsequent board of directors and board of governors meetings to be held on the same date. The candidates for officers are as follows.

1. Japan Exchange Group, Inc. (1) Candidate for Director

Director	Christina Ahmadjian
Director	Michiko Tomonaga

Director	Yuko Kawamoto
Director	Hiroyuki Nakatsukasa

(2) Candidate for Executive Officer

Executive Officer Isao Hasegawa

Executive Officer	Norio Iwasaki
Executive Officer	Masahiko Maruyama (Nominated as OSE Standing Statutory Auditor)

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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2. Tokyo Stock Exchange, Inc.

Candidate for Executive Officer

Executive Officer Isao Hasegawa

Executive Officer Norio Iwasaki

3. Osaka Exchange, Inc.

(1) Candidate for Executive Officer

Executive Officer	Yoshihiro Isaka
Executive Officer	Isao Hasegawa

Executive Officer Masahiko Maruyama

(2) Candidate for Statutory Auditor

Standing Statutory Auditor Masahiko Maruyama

Standing Statutory Auditor Yoshitake Kaneda

4. Japan Exchange Regulation

(1) Candidate for Governor

Standing Governor Hiroyuki Matsuzaki

Standing Governor Taro Takeda

(2) Candidate for Auditor

Standing Auditor Taro Takeda

Standing Auditor Hiroyuki Matsuzaki

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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1. Japan Exchange Group, Inc. (1) Candidate for Director

(Appendix)

Director (Chairperson of the board)	Masakazu Hayashi
Director	Atsushi Saito
Director	Michio Yoneda
Director	Akira Kiyota
Director	Hiromi Yamaji
Director※	Christina Ahmadjian
Director※	Tsutomu Okuda
Director※	Hideaki Kubori
Director※	Michiko Tomonaga
Director	Masayuki Hirose
Director※	Katsuhiko Honda
Director※	Kunihiro Matsuo
Director※	Shigeru Morimoto
Director※	Charles Ditmars Lake II

(Note) 1. Underscore indicates new director.

2. The directors marked "※" are independent directors.

(2) Candidate for Executive Officer

Representative Executive Officer, Group CEO	Atsushi Saito
Representative Executive Officer, Group COO	Michio Yoneda
Executive Vice President	Yoshinori Suzuki
Executive Vice President	Koichiro Miyahara
Executive Vice President	Kotaro Yamazawa
Senior Executive Officer	Yoshinori Karino
Senior Executive Officer	Moriyuki Iwanaga
Executive Officer	Isao Hasegawa

(Note) Underscore indicates new executive officer or title.

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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2. Tokyo Stock Exchange, Inc.

(1) Candidate for Director

President & CEO	Akira Kiyota
Director	Yoshinori Suzuki
Director	Kiyoyuki Tsuchimoto
Director	Masaki Shizuka
Director(Part-time)	Michio Yoneda

(Note) Underscore indicates new title.

(2) Candidate for Executive Officer

President & CEO	Akira Kiyota
Executive Vice President	Yoshinori Suzuki
Senior Executive Officer	Kiyoyuki Tsuchimoto
Senior Executive Officer	Masaki Shizuka
Senior Executive Officer	Moriyuki Iwanaga
Executive Officer	Yasuyuki Konuma
Executive Officer	Ryusuke Yokoyama
Executive Officer	Yoshihiro Isaka
Executive Officer	Masayuki Murata
Executive Officer	Isao Hasegawa

(Note) Underscore indicates new executive officer or title.

3. Osaka Exchange , Inc.

(1) Candidate for Director

President & CEO	Hiromi Yamaji
Director	Kotaro Yamazawa
Director	Yoshinori Karino
Director(Part-time)	Atsushi Saito

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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(2) Candidate for Executive Officer

President & CEO	Hiromi Yamaji
Executive Vice President	Yoshinori Suzuki
Executive Vice President	Kotaro Yamazawa
Senior Executive Officer	Yoshinori Karino
Executive Officer	Yoshihiro Isaka
Executive Officer	Hiroyasu Ichimoto
Executive Officer	Tatsuya Kamiki
Executive Officer	Isao Hasegawa

(Note) Underscore indicates new executive officer or title.

(3) Candidate for Statutory Auditor

Standing Statutory Auditor	Masahiko Maruyama
Statutory Auditor (Outside)	Hiroshi Iwaki
Statutory Auditor (Outside)	Yasuhiko Ogawa

(Note) 1. Underscore indicates new statutory auditor.

2. Statutory Auditor Hiroshi Iwaki and Yasuhiko Ogawa are currently serving terms of office and will continue to hold their positions.

4. Japan Exchange Regulation

(1) Candidate for Governor

President (Outside)	Takafumi Sato
Standing Governor	Makoto Minoguchi
Standing Governor	Tetsuya Kawamoto
Standing Governor	Hiroyuki Matsuzaki
Governor (Outside)	Hideaki Kubori
Governor (Outside)	Shigeo Sasaki
Governor (Outside)	Koichi Masuda

(Note) 1. Underscore indicates new governor.

2. President(Outside) Takafumi Sato, Standing Governor Makoto Minoguchi, Tetsuya

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Kawamoto, and Governor(Outside) Hideaki Kubori, Shigeo Sasaki, Koichi Masuda are currently serving terms of office and will continue to hold their positions.

(2) Candidate for Standing Auditor

Standing Auditor	Taro Takeda
Auditor (Outside)	Takashi Moriya

(Note) 1. Underscore indicates new standing auditor.

2. Auditor Takashi Moriya is currently serving a term of office and will continue to hold his position.

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Reference 1

Curriculum Vitae of new Candidates

Name ：Christina Ahmadjian

Date of Birth ：March 5, 1959

Brief Biography and Position：

January 1995	Assistant Professor, Columbia Business School (Graduate School of Business,Columbia University)
October 2001	Associate Professor, Hitotsubashi University, Graduate School of International Corporate Strategy
January 2004	Professor, Hitotsubashi University, Graduate School of International Corporate Strategy
June 2009	Director (Member of the Board), Eisai Co., Ltd.
April 2010	Dean, Hitotsubashi University, Graduate School of International Corporate Strategy
April 2012	Professor, Hitotsubashi University, Graduate School of Commerce and Management (Present position)
June 2012	Director (Member of the Board), Mitsubishi Heavy Industries, Ltd. (Present position)

Name ：Michiko Tomonaga

Date of Birth ：July 26, 1947

Brief Biography and Position：

April 1972	Entered Showa Audit Corporation (currently Ernst & Young ShinNihon LLC)
March 1975	Licensed as Certified Public Accountant (present post)
July 2007	Vice President, Japanese Institute of Certified Public Accountants
July 2008	Senior Partner, Ernst & Young ShinNihon LLC
June 2010	Auditor, Keikyu Corporation (present post)
June 2011	Auditor,NIPPON TELEGRAPH AND TELEPHONE CORPORATION (present post)
February 2012	Auditor, Corporation for Revitalizing Earthquake affected Business (present post)

Name ：Isao Hasegawa

Date of Birth ：September 9, 1964

Brief Biography and Position：

April 1987	Entered Tokyo Stock Exchange
June 2010	Director, Equities Department, Tokyo Stock Exchange, Inc. (present post)

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Name ：Yoshihiro Isaka

Date of Birth ：July 6, 1955

Brief Biography and Position：

April 1979	Entered the Ministry of Finance
June 1998	Director, International Office, Financial Supervisory Agency
July 2000	Director, Office of International Operations, National Tax Agency
July 2003	Director, Examination Division, National Tax Agency
June 2004	Minister, Embassy of Japan in London
July 2007	Deputy Commissioner (International), National Tax Agency
July 2009	Commissioner, Nagoya Regional Taxation Bureau
August 2010	Deputy Director-General, European Affairs Bureau, Ministry of Foreign Affairs
July 2013	Deputy Director-General, National Tax Tribunal
June 2013	Executive Officer, Tokyo Stock Exchange, Inc. (present post)

Name ：Masahiko Maruyama

Date of Birth ：September 4, 1964

Brief Biography and Position：

April 1989	Entered Osaka Securities Exchange
July 2001	Executive Officer, Osaka Securities Exchange Co., Ltd.
April 2004	Senior Executive Officer, Osaka Securities Exchange Co., Ltd.
January 2009	Senior Executive Officer, JASDAQ Securities Exchange, Inc.
April 2010	Senior Executive Officer, Osaka Securities Exchange Co., Ltd.
January 2013	Executive Officer, Japan Exchange Group, Inc. & Senior Executive Officer, Osaka Securities Exchange Co., Ltd. (currently Osaka Exchange , Inc.)
June 2013	Executive Officer, Japan Exchange Group, Inc. & Executive Officer, Osaka Securities Exchange Co., Ltd. (currently Osaka Exchange , Inc.)

Name ：Hiroyuki Matsuzaki

Date of Birth ：February 8, 1964

Brief Biography and Position：

April 1986	Entered Tokyo Stock Exchange
June 2009	Director,Listing Department, Tokyo Stock Exchange, Inc.
June 2013	Standing Auditor, Tokyo Stock Exchange Regulation (currently Japan Exchange Regulation) (present post)

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Name ：Taro Takeda

Date of Birth ：July 9, 1956

Brief Biography and Position：

April 1979	Entered Tokyo Stock Exchange
June 2003	Director,Human Resources Department, Tokyo Stock Exchange, Inc.
August 2007	Director, Human Resources Department & Head of Secretary Office, Tokyo Stock Exchange Group, Inc.
June 2009	Standing Governor, Market Surveillance and Compliance Department, Tokyo Stock Exchange Regulation (currently Japan Exchange Regulation) (present post)

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Reference 2

Area of Responsibility of New Executive Officers and Standing Governors

1. Japan Exchange Group, Inc.

	Name	Area of Responsibility
Representative Executive Officer, Group CEO	Atsushi Saito
Representative Executive Officer, Group COO	Michio Yoneda
Executive Vice President & CIO	Yoshinori Suzuki	IT Planning
Executive Vice President	Koichiro Miyahara	Human Resources
Executive Vice President	Kotaro Yamazawa	Corporate Strategy and Corporate Communications
Senior Executive Officer	Yoshinori Karino	IT Planning
Senior Executive Officer & CFO	Moriyuki Iwanaga	Treasury
Executive Officer	Isao Hasegawa	General Administration

2. Tokyo Stock Exchange, Inc.

	Name	Area of Responsibility
President & CEO	Akira Kiyota
Executive Vice President	Yoshinori Suzuki	IT Administration and IT Development (Equities and Information)
Senior Executive Officer	Kiyoyuki Tsuchimoto	Equities and Market Participants Relations
Senior Executive Officer	Masaki Shizuka	Listing
Senior Executive Officer	Moriyuki Iwanaga	Clearing & Settlement
Executive Officer	Yasuyuki Konuma	New Listings and Market Business Development
Executive Officer	Ryusuke Yokoyama	IT Development (Clearing) and IT Services
Executive Officer	Yoshihiro Isaka	Information Services
Executive Officer	Masayuki Murata	New Listings
Executive Officer	Isao Hasegawa	General Administration

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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3. Osaka Securities Exchange Co., Ltd.

	Name	Area of Responsibility
President & CEO	Hiromi Yamaji
Executive Vice President	Yoshinori Suzuki	lT and Next Derivatives Trading System Development
Executive Vice President	Kotaro Yamazawa	Market Business Development
Senior Executive Officer	Yoshinori Karino	lT
Executive Officer	Yoshihiro Isaka	Information Services
Executive Officer	Hiroyasu Ichimoto	Market Business Development and Market Operations
Executive Officer	Tatsuya Kamiki	Market Operations
Executive Officer	Isao Hasegawa	General Administration

4. Japan Exchange Regulation

	Name	Area of Responsibility
President	Takafumi Sato
Standing Governor	Makoto Minoguchi	Listing Examination and General Administration
Standing Governor	Tetsuya Kawamoto	Listed Company Compliance
Standing Governor	Hiroyuki Matsuzaki	Participant Examination and Inspection, and Market Surveillance

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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