Advertisement
YOU ARE HERE: LAT HomeCollectionsYamaichi Securities Co Ltd
IN THE NEWS

Yamaichi Securities Co Ltd

FEATURED ARTICLES
BUSINESS
February 25, 1993 | From Times Staff and Wire Reports
Japanese Firms Reportedly Settle SEC Charges: Three big Japanese brokerages agreed to pay fines of up to $600,000 and settle SEC charges that they kept shoddy records of trades and personnel, sources familiar with the matter said. The three firms--Daiwa, Nomura Securities International Inc. and Yamaichi International (America) Inc.--have agreed to pay fines ranging from about $100,000 to $600,000, said the sources, who requested anonymity.
ARTICLES BY DATE
BUSINESS
November 27, 1997 | From Times Wire Services
Japan on Wednesday made an extraordinary appeal for calm among the public and financial markets over the country's economic crisis. A rare joint statement by Finance Minister Hiroshi Mitsuzuka and Bank of Japan Gov. Yasuo Matsushita also promised there are no more major bankruptcies ahead for Japanese financial institutions.
Advertisement
NEWS
November 26, 1997 | SONNI EFRON and EVELYN IRITANI, TIMES STAFF WRITERS
With grim-faced investors queuing up outside a failed brokerage Tuesday and the stock market beating a panicky retreat, public pressure mounted on the Japanese government to quell the wrath of the markets by rescuing the nation's debt-laden banks. "I came here today to pick up my money, but I couldn't get in because there is such a crowd," said Mayumi Kihata, 32, an office worker who was among about 150 people lined up outside one downtown branch of Yamaichi Securities Co.
BUSINESS
September 21, 1991 | From Reuters
Japan's Big Four brokerages said Friday that they would introduce voluntary reforms after the industry's massive scandal. The reforms, unveiled at a managers meeting, were aimed at such practices as the compensation of favored investors for their losses and business links with gangsters, which drew government sanctions and have angered the general public.
BUSINESS
September 25, 1991 | From Times Staff and Wire Reports
Japanese Brokerages Penalized: Japan's Big Four brokerages took another blow to their pride and possibly their profits when Finance Minister Ryutaro Hashimoto announced that they would be asked to suspend underwriting government bonds for one month. The brokers are expected to comply with the request, industry sources said. Hashimoto's announcement came after figures were released showing the Big Four--Nomura Securities Co., Daiwa Securities Co., Nikko Securities Co. and Yamaichi Securities Co.
BUSINESS
November 22, 1997 | From Associated Press
One of Japan's biggest securities firms plans to shut down because of financial woes from a payoff scandal and a slump in Tokyo stock prices, Japanese news services reported. Yamaichi Securities Co., which has debts of about 3 trillion yen, or $24 billion, would be the biggest Japanese company to collapse since World War II, Nikkei News said late Friday.
NEWS
November 26, 1997 | SONNI EFRON and EVELYN IRITANI, TIMES STAFF WRITERS
With grim-faced investors queuing up outside a failed brokerage Tuesday and the stock market beating a panicky retreat, public pressure mounted on the Japanese government to quell the wrath of the markets by rescuing the nation's debt-laden banks. "I came here today to pick up my money, but I couldn't get in because there is such a crowd," said Mayumi Kihata, 32, an office worker who was among about 150 people lined up outside one downtown branch of Yamaichi Securities Co.
BUSINESS
August 8, 1991 | From Reuters
Three big U.S. investment funds plan to slap a multimillion-dollar lawsuit on the Japanese brokerages that covered the trading losses of their local clients, a lawyer for the funds said Wednesday. They plan to file the suit in the United States against the firms and their U.S. subsidiaries, said attorney Charles Stevens, senior partner in the East Asian offices of U.S. law firm Coudert Bros. He did not identify the U.S. funds in the action or in what court the suit would be filed.
BUSINESS
November 27, 1997 | From Times Wire Services
Japan on Wednesday made an extraordinary appeal for calm among the public and financial markets over the country's economic crisis. A rare joint statement by Finance Minister Hiroshi Mitsuzuka and Bank of Japan Gov. Yasuo Matsushita also promised there are no more major bankruptcies ahead for Japanese financial institutions.
BUSINESS
November 25, 1997 | From Reuters
Yamaichi Securities Co.'s U.S. unit on Monday said it plans to follow its Japanese parent's lead and shut down, meaning U.S. regulators will probably ask other companies to take over millions of dollars in American customer accounts held by the subsidiary. "We are working to ensure that U.S. investors' interests are protected as Yamaichi is unwound," said Richard Lindsey, who heads the Securities and Exchange Commission's market regulation division.
NEWS
November 24, 1997 | SONNI EFRON, TIMES STAFF WRITER
Crushed by soaring debt, a slumping stock market and a racketeer payoff scandal, Yamaichi Securities, Japan's fourth-largest brokerage firm, announced today that it will shut down. It is the largest Japanese corporate failure since World War II. Reaffirming the Japanese government's increasingly tough, market-oriented stance, Finance Minister Hiroshi Mitsuzuka said the brokerage will be allowed to go under.
BUSINESS
November 22, 1997 | From Associated Press
One of Japan's biggest securities firms plans to shut down because of financial woes from a payoff scandal and a slump in Tokyo stock prices, Japanese news services reported. Yamaichi Securities Co., which has debts of about 3 trillion yen, or $24 billion, would be the biggest Japanese company to collapse since World War II, Nikkei News said late Friday.
BUSINESS
November 22, 1997 | From Reuters
Japan's Finance Ministry said today that it ordered the country's fourth-largest brokerage, Yamaichi Securities Co., to finalize a plan to deal with its financial troubles by Monday. The ministry said it did not believe that Yamaichi's liabilities exceeded its assets, but suspicions were growing that the "Big Four" broker had massive off-balance sheet liabilities exceeding $1.58 billion.
BUSINESS
November 17, 1997 | Associated Press
Cash-strapped Yamaichi Securities Co., a leading Japanese brokerage, will split its operations and gradually shut its 31 overseas branches and link up with foreign securities firms, according to reports appearing Sunday in the Japanese news media. Kyodo News agency, citing unidentified industry sources, reported that next April, Yamaichi will consist of one part to oversee services for corporate clients, a second to be in charge of services for individual customers, and a third for management.
BUSINESS
September 25, 1997 | Associated Press
Tokyo prosecutors arrested the former president of Yamaichi Securities Co., a major Japanese brokerage. The move followed the arrests last month of five brokerage officials accused of funneling profits to Ryuichi Koike, a suspected racketeer. Prosecutors from the Tokyo District Public Prosecutors Office said Atsuo Miki is suspected of having endorsed $658,000 in payments that were transferred in 1995 to an account held by Koike's younger brother.
BUSINESS
September 2, 1991 | LESLIE HELM, TIMES STAFF WRITER
While Japanese securities companies are being publicly flogged for their role in the slew of scandals that have surfaced this summer, American and European brokers are quietly boosting their market share here. In the last two months, foreign brokers handled more than 18% of all trades made on the Tokyo Stock Exchange, up from about 10% at the beginning of the year. The increase is partly a statistical quirk.
BUSINESS
September 17, 1997 | Bloomberg News
Japan's securities watchdog said it's seeking an indictment against Yamaichi Securities Co. and five former Yamaichi directors in connection with illegal payments to a corporate racketeer. The Securities and Exchange Surveillance Commission, which regulates the securities industry, also said it's seeking an indictment against Ryuichi Koike, the racketeer. Koike is already charged with extorting $3.1 million from Nomura Securities Co.
BUSINESS
February 25, 1993 | From Times Staff and Wire Reports
Japanese Firms Reportedly Settle SEC Charges: Three big Japanese brokerages agreed to pay fines of up to $600,000 and settle SEC charges that they kept shoddy records of trades and personnel, sources familiar with the matter said. The three firms--Daiwa, Nomura Securities International Inc. and Yamaichi International (America) Inc.--have agreed to pay fines ranging from about $100,000 to $600,000, said the sources, who requested anonymity.
Los Angeles Times Articles
|