Nobuhiko Matsuno, 59, vice chairman of the Regional Banks Association of Japan, was questioned by prosecutors about Yamaichi Securities Co. seeking his counseling when he headed the Finance Ministry’s Securities Bureau in 1991, informed sources said March 17.

Yamaichi, the nation’s fourth-largest brokerage, is believed to have started window-dressing its losses shortly before or after this time. Saddled with cumulative off-book losses of 264.8 billion yen, the firm decided last November to close down.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.