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Nikko Securities President Masashi Kaneko confirmed during a Finance Ministry hearing Monday that his brokerage provided illegal profits to Shokei Arai, a Diet member who committed suicide last month hours before he was to be arrested.

But he asked administrators not to impose a heavy penalty, saying the payments should be considered part of an earlier scandal in which the major brokerage compensated a “sokaiya” corporate extortionist for stock-trading losses. The firm has already been punished in the case.

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