Yamaichi Securities Co. formally decided Monday to close down voluntarily amid a financial crisis linked to flagging stock prices, fallen credibility from payoff scandals and recently discovered losses from illegal “tobashi” trading activities.
The firm, one of the nation’s Big Four brokerages, filed for voluntary closure Monday morning with the Finance Ministry, terminating 100 years of business. The ministry instructed Yamaichi to suspend the initiation of all new transactions.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.