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Jul 31, 2012

Japan watchdog wants order against Nomura for insider cases

TOKYO (Reuters) – Japan’s securities investigators on Tuesday urged a relatively light penalty on Nomura Securities and closed out a three-month investigation of the brokerage’s role in leaks of company share issuance plans dating back to 2010.

The recommendation by the Securities and Exchange Surveillance Commission moves Japan’s largest brokerage closer toward a resolution of a costly scandal that triggered the resignations of Chief Executive Kenichi Watanabe and his top lieutenant Takumi Shibata last week.

Jul 29, 2012

Insight: As scandal grew, Nomura chairman pushed for shake-up

TOKYO (Reuters) – The biggest management shake-up at Nomura Holdings in a decade and a half was orchestrated by the bank’s chairman with the secrecy and precision of a military operation.

The closely guarded timing of Thursday’s announcement that Chief Executive Kenichi Watanabe was quitting stunned senior managers at Japan’s top investment bank. Watanabe, 59, had vowed only a month ago to ride out an insider trading scandal.

Jul 29, 2012

As scandal grew, Nomura chairman pushed for shake-up

TOKYO, July 29 (Reuters) – The biggest management shake-up
at Nomura Holdings in a decade and a half was
orchestrated by the b a nk’s chairman with the secrecy and
precision of a military operation.

The closely guarded timing of Thursday’s announcement that
Chief Executive Kenichi Watanabe was quitting stunned senior
managers at Japan’s top investment bank. Watanabe, 59, had vowed
only a month ago to ride out an insider trading scandal.

Jul 26, 2012

Nomura CEO quits as insider trading scandal widens

TOKYO (Reuters) – Nomura Holdings Inc (8604.T: Quote, Profile, Research) CEO Kenichi Watanabe resigned on Thursday over a widening insider trading scandal and will be replaced by company veteran Koji Nagai, as Japan’s top investment bank warned additional cases could come to light.

The management shake-up was confirmed in a news conference at the end of a dramatic day in Tokyo that also saw Watanabe’s top lieutenant, Takumi Shibata, resign over leaks of insider information to clients of its securities unit in 2010.

Jul 26, 2012

Nomura CEO to quit over insider trading scandal

TOKYO, July 26 (Reuters) – Nomura Holdings Inc will
appoint securities unit head Koji Nagai as its new CEO, the
Nikkei business daily reported on Thursday, after Kenichi
Watanabe quit to take responsibility for an insider trading
scandal at Japan’s top investment bank.

People with knowledge of the situation had earlier said the
resignations of Watanabe and his top lieutenant, Takumi Shibata,
were approved at a board meeting on Thursday morning.

Jul 26, 2012

Nomura CEO Watanabe to resign over trading leaks

TOKYO (Reuters) – Nomura Holdings Inc (8604.T: Quote, Profile, Research, Stock Buzz) CEO Kenichi Watanabe and his top lieutenant, Takumi Shibata, will resign to take responsibility for leaks of insider information to the clients of its brokerage unit, people with knowledge of the management shake-up said.

The resignation by Watanabe and Shibata, Nomura’s chief operating officer, were approved at a board meeting on Thursday, the sources said.

Jul 20, 2012

Japan short rule makes $2.2 bln ANA offering hard sell overseas

TOKYO, July 20 (Reuters) – Japan’s regulatory crackdown on
insider trading depressed hedge fund interest in All Nippon
Airways’ (ANA) $2.2 billion share offering,
highlighting a new challenge for Japanese firms looking to raise
funds overseas.

There were two surprises in the terms announced by the
airline this week: an unusually high discount of 4.2 percent and
an allocation split that left just 13 percent in the hands of
overseas investors, less than half the targeted 30 percent.

Jul 17, 2012

“King of Tokyo” dethroned by insider trading probe

TOKYO (Reuters) – Edward Brogan was Japan’s highest-profile hedge fund manager until he suddenly dropped out of view this month.

Dubbed the “King of Tokyo” by traders, the 53-year-old American seemed to have it all: wealth, professional acclaim and status as a patron of contemporary art.

Jul 5, 2012

Fund opposition looms over Japan exchange merger

TOKYO, July 5 (Reuters) – Opposition from overseas funds has
raised questions over whether Japan’s two major stock exchanges
will succeed with their merger plan at the proposed buyout price
having received the go-ahead from regulators.

Japan’s anti-monopoly watchdog, the Fair Trade Commission,
announced on Thursday that it had approved the combination of
the Tokyo Stock Exchange and the Osaka Securities Exchange
to create the world’s third-biggest equities exchange.

Jul 4, 2012

ANA eyes Asia deals with $2.6 bln capital raise

TOKYO, July 4 (Reuters) – All Nippon Airways plans
to use part of the $2.6 billion it is set to raise from equity
markets this month to take stakes in or buy Asian rivals,
underscoring the Japanese carrier’s rush to secure growth
outside its mature home market.

ANA said after the market closed on Tuesday that it would
issue up to 211 billion yen worth of new shares to pay for
fuel-efficient Boeing 787 Dreamliners, shore up its balance
sheet and build up a war chest to invest in growth opportunities
in Asia.