A Scandal and 'Big Bang' Roil the Tokyo Market
Mar. 7
Nomura Securities discloses that top managers engaged in illicit dealings with alleged corporate extortionist Ryuichi Koike, who has been jailed.
May 20
Prosecutors raid Dai-Ichi Kangyo Bank after learning it and an affiliate made $340 million in loans to Koike that weren't repaid.
May 30
Tokyo prosecutors arrest former Nomura President Hideo Sakamaki for allegedly agreeing to pay Koike $334,000 in hush money. He has also been jailed.
June 5
Four current or former DKB executives are arrested on suspicion of making payoffs to Koike. Four more are subsequently arrested.
June 13
Prime Minister Ryutaro Hashimoto unveils an expanded version of his ''Big Bang'' overhaul of Japanese financial markets.
June 25
Prosecutors say they are exploring Koike's possible financial ties to a dozen other brokerages.
DATA: BUSINESS WEEK
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