Japan’s newly appointed Financial Services Minister Tadahiro Matsushita pledged to deepen his agency’s investigation into insider trading that has undermined confidence in the country’s financial markets.
Japanese Prime Minister Yoshihiko Noda reshuffled his Cabinet in an effort to win opposition backing for his bill to double the consumption tax, after his bid to heal a breach in the ruling party failed.
Japan’s Financial Services Minister Shozaburo Jimi declined to comment on Olympus Corp.’s scandal over payments to acquisition advisers, adding that in general, if there are any rule breaches, necessary examinations will be carried out accordingly. He was speaking to reporters in Tokyo today.
Japan’s Financial Services Agency issued an order protecting the assets of MF Global Holdings Ltd.’s local operation and instructed the firm to improve its business, Financial Services Minister Shozaburo Jimi said.
Japanese Prime Minister Yoshihiko Noda faced new challenges to his leadership as a member of the ruling group rejected his plan for a sales-tax boost and opposition widened to his nominee for the central bank board.
Japan Airlines Co., the carrier planning an initial public offering this year, may exclude SMBC Nikko Securities Inc. as a lead underwriter for the sale after regulators said the brokerage breached domestic securities law.
Japan’s Securities and Exchange Surveillance Commission is investigating Olympus Corp., the camera maker that said it hid losses by paying inflated fees to advisers, according to a person with knowledge of the situation.