22 November 2011
Technology Trends: Not just an Earthquake, but a Tsunami too: a real test of Disaster Recovery
Speaker: Mitsuo Miwa, Chief Representative, London at Tokyo Stock Exchange
In spring 2011, Japan suffered one of the worst disasters ever experienced, when the island was hit by a devastating earthquake immediately followed by a terrible tsunami that wiped out significant areas of the country and caused a nuclear leak in the Fukushima power plant that has never been seen before. It was the most powerful known earthquake ever to have hit Japan, and one of the five most powerful earthquakes in the world ever recorded.
The magnitude 9.0 earthquake hit Japan ten minutes before the end of trading on Friday 11th March 2011 and Tokyo, just over 200 miles from its epicentre, was severely affected. In fact, Tokyo was brought to a standstill as trains were paralysed, mobile networks were crippled and hordes of commuters were stranded whilst others were left trapped in elevators.
The Tokyo Stock Exchange (TSE) managed to stay open until the closing bell on 11th March and, on Sunday afternoon and much to everyone’s surprise, announced that no infrastructure had been affected and that it would open as normal the following morning.
How did the Exchange cope with all of these issues, and how come it was one of the few businesses to carry on as normal amongst such devastation all around them? Mitsuo Miwa, the Tokyo Stock Exchange’s Chief Representative in London, will share this fascinating story with us.