Export to Excel in Reports not working

in version 7.2b while trying to export the reports to excel. an error message is getting displayed. in logs I am getting the following error: "ERROR generating excel file. HTTP status:500 Message: com.sage.crm.web.exception.SageAsyncProcessException: Report generation failed Caused by: com.sage.crm.core.exception.SageEndpointException: java.io.IOException: Cannot run program "D:\Sage\Services\JRE\jre7\bin\java.exe" (in directory "D:\Program Files (x86)\Sage\CorodexCRM\tomcat\webapps\corodexcrmj"): CreateProcess error=2, The system cannot find the file specified " if any one knows to solve this issue, do share it. thank you.