A Big Stink Speeds Up Tokyo's Big Bang

Dirty deals let Hashimoto hurry financial deregulation

Even for the scandal-jaded Japanese, this was too much. Since March, tales of illicit payoffs to a gangster by Nomura Securities Co. and Dai-Ichi Kangyo Bank Ltd. have mesmerized the nation. Some 14 executives from both companies have been arrested, and on Jun. 19, former Nomura President Hideo Sakamaki was indicted on criminal charges for allegedly paying hush money to reputed racketeer Ryuichi Koike, who has been charged with illegally receiving profits from the broker. Both men are being held behind bars, and neither has entered a plea or responded to requests for comment.

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