The Securities and Exchange Surveillance Commission called on the finance minister March 20 to take administrative action against Nikko Securities Co. for allegedly violating the Securities and Exchange Law and a ministry ordinance.

The brokerage is suspected of channeling roughly 291 million yen in profits from securities transactions to Shokei Arai, a House of Representatives lawmaker who committed suicide last month only hours before he was to be arrested for allegedly demanding the preferential treatment.

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.