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Nomura Securities Co. gave illegal payoffs of roughly 370 million yen to a “sokaiya” corporate extortionist as a token of gratitude for his refraining from disturbing its general shareholders’ meeting in 1995, the president of the brokerage acknowledged July 24 at an open Finance Ministry hearing.

Junichi Ujiie, president of the nation’s largest brokerage, said in-house investigations revealed that the Securities and Exchange Surveillance Commission’s discoveries of shady dealings were true. After the obligatory hearing, the first open to the media, the ministry was expected to hand the brokerage a severe administrative penalty — a move that could come as early as next week.

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