Tokyo: mob scene

Article Abstract:

The repeated scandals at Nomura Securities reflects the depth of corporate Japan's links to mob extortionists known as sokaiya. Sokaiya are often linked to Japan's mafia, the yakuza, and although it is illegal to pay off sokaiya, many companies do so. Two executives of Ajinomoto were recently arrested for making payments to sokaiya, and Nomura has acknowledged illicit dealings with a sokaiya. Nomura's stock price fell 11% in the days following the scandal and the company could lose Y50 billion over the next year, due to lost commissions and fees.

Securities Dealers, Police Protection, Organized Crime, Cases, Nomura Securities Company Ltd., Ajinomoto Company Inc., Extortion

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Open the gates

Article Abstract:

It is becoming clear that foreigners are gaining control of significant areas of the Japanese financial system. The recent effective takeover of Nikko Securities' investment banking and international activities by Travelers Group is likely to be followed by further deals, and there will be a significant fall in the number of fully Japanese brokerages with an international presence. Japanese financial companies are no longer in a position to fight off approaches from foreign concerns.

Financial Services, Finance and Insurance, Securities Brokerage, Foreign investments, Financial services industry, Stockbrokers

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All tied up: Japanese and foreign banks seek compatible partners

Article Abstract:

Japanese and foreign financial institutions are seeking links but there are often dangers of cultural clashes. Swiss bank Corp and Long-Term Credit Bank of Japan, recently announced a link and they maintain that their two cultures are compatible. However an area of possible cultural clash could be the pay scale, as Japanese banks base pay on age, whereas foreign banks often provide performance based bonuses.

Security and Commodity Services, Securities Services, Joint ventures, Swiss Bank Corp. (Switzerland), Long-Term Credit Bank of Japan

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