ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Companies

Nomura Holdings CEO to take 30% pay cut over information leak

Brokerage passed on knowledge about reorganization of Tokyo Stock Exchange

Koji Nagai, left, president and Group CEO of Nomura Holdings, bows with other directors during a news conference in Tokyo on May 24. (Photo by Yuki Nakao)

TOKYO -- Nomura Holdings on Friday announced that Group CEO Koji Nagai and other executives will have their pay cut by 30% for three months over a leak of sensitive information.

The salary reductions are part of a raft of preventative steps taken in the wake of a Nikkei report. On Thursday, Nikkei reported that the Financial Services Agency is preparing to crack down on Nomura Securities for allowing closely held information about a pending stock market reorganization to reach investors.

At the news conference, Nomura Holdings executives said the group will introduce a new code of conduct, review its compliance evaluation system and reorganize its wholesale division.

Sadakazu Osaki, a fellow at Nomura Research Institute, was a member of a TSE advisory panel looking at adjusting the listing criteria for each of the bourse's sections. The information dealt with new capitalization requirements that companies would have to meet to be listed in each section.

In March, it was revealed that Osaki had leaked confidential panel information to Nomura Securities. Nomura Securities reportedly conveyed this information to some institutional investors through their strategists and sales people.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media