The bright, eight-story building was supposed to be something to savor for people working in Tokyo's Kabutocho securities center. But it has ended up symbolizing the continuing plight of the brokerage industry.
The new headquarters building of Nikko Securities Co., one of the nation's top three securities firms, was put on sale Friday -- the very day it was completed at a site right next to the Tokyo Stock Exchange.
As part of a massive restructuring program to repay its debts, Nikko announced that it will sell 40 billion yen in real estate holdings, including the new head office.