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.