Nomura Establishes Committee to Investigate Handling of Non-public Information
Tokyo, April 25, 2008 – Nomura Securities Co., Ltd. today announced that its Board of Directors established a committee to investigate the company's procedures for handling non-public information in its Investment Banking division. The committee was established in response to the recent insider trading by a former employee. The committee will determine whether there are any lapses that need to be rectified, and outline appropriate measures.
The three-person committee is chaired by Mr. Masaharu Shibata (Chairman of NGK Insulators, Ltd.), the vice chairman is Mr. Hideaki Kubori (Attorney at Law, Chairman of Hibiya Park Law Offices), and Mr. Shin Kikuchi (Attorney at Law, Mori Hamada & Matsumoto) is a committee member.
The chairman and vice chairman of the committee are both outside directors of Nomura Securities, which has adopted the committee system under the Companies Act of Japan. Under this system, management oversight and executive functions are separated, and outside directors hold an independent, neutral position and act on behalf of shareholders.
Nomura deeply regrets that a former employee was arrested on suspicion of insider trading while working for the company. Nomura is committed to regaining the trust of its customers and society.
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Nomura
Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 18,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: domestic retail, global markets, global investment banking, global merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.
