The secretary general of the Liberal Democratic Party’s financial stability subcommittee has stepped down from that and another panel amid allegations he profited from Nikko Securities Co. through dubious equity investments made on his behalf, LDP sources said Tuesday.

Shokei Arai, a former Finance Ministry bureaucrat, said at a news conference Monday that he opened a Nikko account under an assumed name. However, he denied having pressured Nikko officials into engaging in discretionary trading.

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