The scandal that has rocked the nation’s leading financial firms goes beyond what novelists could ever have imagined, says writer Ryo Takasugi, whose recent novel offers a glimpse into the moral decay of Japanese bankers.

The scandal over payoffs to a “sokaiya” corporate extortionist by Nomura Securities Co. and Dai-Ichi Kangyo Bank is “incomparably more serious than any other past incidents involving Japanese firms,” Takasugi says. His novel, “Kinyu Fushoku Retto” (“An Archipelago of Financial Corruption”), offers readers clues to how Japanese banks deal with sokaiya and the underworld.

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