Nomura Cuts Executive Pay Amid Unit Suspensions on Leaks

Nomura Holdings Inc., Japan’s biggest brokerage, said it will cut top executives’ pay and suspend some operations following an internal probe into leaked information amid a government crackdown on insider trading.

Chief Executive Officer Kenichi Watanabe’s pay will be lowered by 50 percent for six months, while Chief Operating Officer Takumi Shibata’s compensation will be reduced for five months, the Tokyo-based company said in a statement yesterday. The institutional equity sales department will halt business for five days from July 2, it said.