Ironically, the charges against Nomura – that it shifted profits from proprietary trades into an account connected to a not-so-influential sokaiya, Ryuichi Koike – came about only because earlier trades Nomura had made on Koike’s behalf had gone wrong and lost him money.
Kojin Building, a company owned by Koike’s brother, Yoshinori, opened a trading account at Nomura in March 1993. Nomura put it into convertible-bond and warrant-bond trades which made almost ¥300 million that year.
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