Kokusai Securities Co. said Tuesday that three of its executives will resign today over a violation of the Securities and Exchange Law that led to the second-tier brokerage being ordered to suspend operations.
The three were named as Chairman Yoshitaka Matsutani, Vice President Morio Kubo and Senior Managing Director Giichi Katakura, who was head of the Osaka branch when the illegal deals occurred, company officials said.
Nobuo Nakazawa, Kokusai Securities president, will remain in office to carry out reforms in the wake of the scandal, the officials said.