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Tokyo Stock Exchange plans to set up shop in Nago

Date Posted: 2003-06-28

Officials at Tokyo Stock Exchange have announced a plan to create a new company that would serve as an Asian stock and securities information center. They plan to locate the new venture in Nago. Nago was chosen to take advantage of new legislation that gives tax breaks to certain kinds of companies that locate to the special economic zone that was created around Nago.

According to the plan, the new center will connect investors in all major Asian exchanges including Tokyo, Seoul, Shanghai and Beijing. It also is envisioned to become an information hub to investors in all far-eastern countries. The plan calls for the new center to be operational during 2004.

The new center is expected to give a strong boost to local Okinawan companies that are involved in fields of system development, maintenance services and information technology. It should also attract various venture businesses. The center will provide information and services in several languages, including English, Japanese, Chinese and Korean.

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