By Sally Watson, 2 December 1998 16:52
NEWS Electronics giant Hitachi is struggling to identify the source of a computer failure that has brought down the Tokyo Stock Exchange's trading system six times in the last week. Masao Takebayashi, spokesman for Hitachi Europe, said they had not yet been able to identify the exact problem because of the complex nature of the system that involves both hardware and software. He added that it was still under investigation and he was unable to estimate when the problem would be solved. The problems began shortly after Hitachi completed a full upgrade of the system to make it more user friendly. A statement released by the company said: "Under the guidance of the Tokyo Stock Exchange we are working to recheck the futures and options trading system at the earliest possible time in order to improve the quality of the system." Hitachi has also promised to increase that number of staff assigned to oversee the system. The system failure prompted an immediate sell-off in bonds, but the Exchange said it had no intention of replacing the system in the near future. Hitachi won the contract to supply the trading system over several rivals including Japanese manufacturer Fujitsu.
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