Nomura Woes Deepen on Spoofing Case, Attempted Murder Arrest
- Top executives take pay cuts after market manipulation
- Scandals mount as Japan brokerage releases earnings Friday
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Scandals are mounting at Nomura Holdings Inc., threatening to derail a turnaround plan at Japan’s biggest brokerage just as it’s beginning to bear fruit.
Nomura said on Thursday Chief Executive Officer Kentaro Okuda and other top managers will take a pay cut after the firm admitted an employee manipulated the bond market, prompting several firms to stop trading with the brokerage. Less than an hour later, a local news agency reported that a former Nomura worker was arrested on suspicion of robbery and attempted murder of elderly clients.