Alleged stock manipulation at SMBC Nikko involved several sections

Economy Society

Alleged stock manipulation at SMBC Nikko Securities Inc. involved several sections, raising a possibility the misconduct had been organizational, investigative sources said Saturday, after four of the company's employees were arrested. The four employees, including the head of the company's equity department, are suspected of trying to prevent a decline in share prices for five individual stocks on the First Section of the Tokyo Stock Exchange through actions including placing buy orders from December 2019 to November 2020, the sources said. SMBC Nikko President Yuichiro Kondo apologized for t...

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