Nomura Submits Biz Improvement Report to FSA

Economy Politics

Tokyo, June 3 (Jiji Press)--Nomura Holdings Inc. <8604> and its Nomura Securities Co. unit on Monday submitted to Japan's Financial Services Agency a business improvement report, following an information leak.

The agency received the report after issuing a business improvement order because Nomura Securities leaked information related to the Tokyo Stock Exchange's plan to realign its markets.

In March this year, a Nomura Research Institute Ltd. <4307> researcher, who was also a TSE expert panel member, passed on information to Nomura Securities about the estimated market capitalization threshold for the TSE's first section.

Later, a total of some 5,000 emails containing the information were sent from the research division of Nomura Securities to institutional investors in and outside the country.

The FSA pointed to a flaw in the information management system of Nomura Securities, which received a business improvement order also in 2012 for leaking undisclosed information on listed companies such as on public stock offerings.

[Copyright The Jiji Press, Ltd.]

Jiji Press