In order, the next seven placed securities houses
were ABN Amro, HSBC Securities, Salomon Smith Barney, BT.
A report by a third-party investigative panel set up by Maruhachi showed that former adviser to the securities company Norio Yoshida, who was chairman at the time of the incident, said he wanted the securities house
to ''issue many buy orders (for the KS Frozen Foods shares) as the lead manager while being aware of the initial public offering price.
The two signed a basic accord on July 12 when Daiwa, Japan's second-biggest securities house
, obtained 1.
The irregularities surfaced in August when the securities house
found suspicious transactions in its regular checkup at the branch.
the second-largest shareholder in the securities house
with a 3.
on Monday became Japan's first major securities house
to disclose earnings estimates, saying both its group revenues and profit are believed to have risen in the first half of fiscal 2005.
In October, a public auction which was set up made the choice of securities houses
for the loans, which were issued between 2005 and 2011.
Two new securities houses
joined the financial center (Julius Baer Investments and ES Bank Panama ).
Consumer finance firms, securities houses
and glass makers led the market's decline, while utilities, oil distributors and miscellaneous products makers posted gains.
But some banks and securities houses
have made a modest turnaround from the lows seen earlier in the current recession.
As in other countries, Germany's banks, securities houses
, and insurance companies are competing for the same clients by offering a full range of financial products and marketing channels.