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

His resignation is expected to be announced later in the day in a press conference by Akira Kiyota, CEO of Japan Exchange Group Inc., TSE's parent company.

On Monday, Japan's financial watchdog is planning to issue a business improvement order to the two companies following the unprecedented shutdown on Oct. 1.

==Kyodo

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