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Aug 3, 2012

Nomura turns one corner with light sanction in insider case

TOKYO (Reuters) – Japan’s financial regulator handed Nomura Holdings the lightest possible sanction on Friday for its involvement in a string of insider trading cases, marking a key turning point in a costly scandal for the country’s largest investment bank.

The so-called business improvement order from the Financial Services Agency (FSA) will require Nomura to report regularly on its efforts to shore up compliance after it admitted to leaking information on three share offerings it underwrote in 2010.

Aug 3, 2012

Japan Airlines expects IPO to raise $8.5 billion

TOKYO (Reuters) – Japan Airlines said on Friday it expected to raise about $8.5 billion in an initial public offering next month, nearly doubling the investment of a state-backed fund that injected capital into the carrier following its bankruptcy in 2010.

The IPO is set to be the world’s second-largest this year after the $16 billion offering of social networking pioneer Facebook FB.N.

Aug 2, 2012

JAL gives up on securing stable shareholders before $8 bln IPO

TOKYO, Aug 2 (Reuters) – Japan Airlines has given up on the
idea of securing stable shareholders to hold at least 10 percent
of its stock ahead of its listing because such a move would
breach industry rules, Chairman Emeritus Kazuo Inamori said.

The airline has been sounding out trading houses and other
business partners as potential investors ahead of its roughly $8
billion initial public offering slated for next month, sources
with knowledge of the matter have told Reuters.

Jul 31, 2012

Japan watchdog seeks light sanction for Nomura over insider case

TOKYO, July 31 (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 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.