Business English Lite
2012/07/04

Nomura executives take pay cuts over insider trading leaks 野村の役員、インサイダー取引リークによって減給

Nomura, Japan’s largest investment bank by revenues, said employees were the source of non-public information used by fund managers in three insider trading cases that have come to light this year. These were the new share issues of Tokyo Electric Power, Inpex and Mizuho, for which Nomura acted as underwriter.

Market participants have long complained that non-public information is leaked to specific investors ahead of new share issues, allowing them to profit from the difference. Japan’s regulators and politicians have raised concerns that allegations of widespread insider trading have damaged the reputation of the Tokyo market and discouraged individual investors.

Nomura says lax internal controls and an excessive pursuit of profits partly led to staff leaking insider information. It stated that it would halve top executives’ pay for several months, fire those responsible and suspend certain businesses.

Kenichi Watanabe, chief executive, will take a 50 per cent pay cut for six months, while Takumi Shibata, chief operating officer, will take the same cut for five months starting from tomorrow. Mr Watanabe’s pay for the year ending March was 128 million yen.

Key Vocabularies :
allegations [noun] 証拠固めが十分でない申し立て,   widespread [adj] 一般化する、広い地域に配布される,   lax [adj] 厳しくない、注意不足または怠慢な,   excessive [adj] 余剰、ありすぎ,   pursuit [noun] 追い求め、追求、探求,  

Quiz

本文の内容や単語について問う問題です。問題は全部で5問あります。是非チャレンジしてみて下さい。

1.

According to the article, what was the source of the leaked information?

 

2.

What is a main concern of regulators in Japan due to these leaks becoming public?

 
Look at the underlined word or phrase and choose the answer that is closest in meaning.

3.

It stated that it would halve top executives’ pay for several months, fire those responsible and suspend certain businesses.

 

4.

Nomura, Japan’s largest investment bank by revenues, said employees were the source of non-public information used by fund managers in three insider trading cases that have come to light this year.

The idiom, come to light means

 

5.

Based on the information in the article, how might one characterize the punishments that the CEO and COO are getting?

 
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