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Based on the CEO, Fujitsu remains to be investigating the causes of the Tokyo inventory market failure

© Reuters. FILE PHOTO: A man works on the Tokyo Stock Exchange after the Tokyo market opened

TOKYO (Reuters) – Fujitsu Ltd (T :), the developer of the Tokyo Stock Exchange's trading system, is still investigating the causes of the stock exchange's worst failure in the past week, the company's chief executive said Monday.

"We will make every effort to find the causes and prevent such problems from recurring," said Takahito Tokita at a briefing on Fujitsu's digital strategy in its first public appearance since the TSE failure, the world's third largest stock market paralyzed.

The TSE has indicated that the error was the result of a hardware problem in the Arrowhead trading system and a subsequent error when switching to a backup. It caused the first full-day suspension since the exchange switched to fully electronic trading in 1999.

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