Nikko Cordial CorporationKabushiki-kaisha Nikkō Kōdiaru Gurūpu (株式会社日興コーディアルグループ)TYO: 8603 SGX: N06 was the holding company for Nikko Cordial Securities, Japan's third largest brokerage until 2008, when Nikko Cordial Corporation became a wholly owned subsidiary of Citigroup; upon completion of share exchange, it merged with Citigroup Japan Holdings Ltd. to form Nikko Citi Holdings Inc., before changing its name to Citigroup Japan Holdings Corp. in 2009.
Nikko Cordial sued three of its former executives for fraud, including former Chief executive officer Junichi Arimura, for ¥3.4 billion. Nikko Cordial's profits decreased by 32.9% following the scandal.[1] The lawsuit was settled by Citigroup in June 2009.[2]
In 2007 Citigroup acquired a majority of shareholders in Nikko Cordial for $7.7 billion.[3] In October 2009, all of the operations of Nikko Cordial Securities and certain businesses of Nikko Citigroup, such as the domestic stock and bond underwriting business among others, were sold to Sumitomo Mitsui Banking Corporation.[4] Nikko Cordial was being reorganized into a new subsidiary company, SMBC Nikko Securities Inc., in April 2011.[5]
nikko, cordial, corporation, kabushiki, kaisha, nikkō, kōdiaru, gurūpu, 株式会社日興コーディアルグループ, 8603, holding, company, securities, japan, third, largest, brokerage, until, 2008, when, corporation, became, wholly, owned, subsidiary, citigroup, upon, completion, shar. Nikko Cordial Corporation Kabushiki kaisha Nikkō Kōdiaru Gurupu 株式会社日興コーディアルグループ TYO 8603 SGX N06 was the holding company for Nikko Cordial Securities Japan s third largest brokerage until 2008 when Nikko Cordial Corporation became a wholly owned subsidiary of Citigroup upon completion of share exchange it merged with Citigroup Japan Holdings Ltd to form Nikko Citi Holdings Inc before changing its name to Citigroup Japan Holdings Corp in 2009 Nikko Cordial Corporation 株式会社日興コーディアルグループTypeK K Traded asTYO 8303 SGX N06IndustryBrokerageFoundedApril 1 1944 1944 04 01 SuccessorSMBC Nikko SecuritiesHeadquartersChuo Tokyo JapanWebsitenikko wbr co wbr jpNikko Cordial sued three of its former executives for fraud including former Chief executive officer Junichi Arimura for 3 4 billion Nikko Cordial s profits decreased by 32 9 following the scandal 1 The lawsuit was settled by Citigroup in June 2009 2 In 2007 Citigroup acquired a majority of shareholders in Nikko Cordial for 7 7 billion 3 In October 2009 all of the operations of Nikko Cordial Securities and certain businesses of Nikko Citigroup such as the domestic stock and bond underwriting business among others were sold to Sumitomo Mitsui Banking Corporation 4 Nikko Cordial was being reorganized into a new subsidiary company SMBC Nikko Securities Inc in April 2011 5 Nikko Cordial subsidiaries EditMonex Retail securities firm Nikko Citigroup Joint venture with Citigroup involved in investment banking trading and research Nikko Cordial Securities Retail and corporate securities firmReferences Edit Takahara Kanako 2007 04 25 Nikko Cordial s fraud sends 2006 profits down The Japan Times Retrieved 2020 07 18 Citi settles Nikko Cordial accounting lawsuits The Japan Times 2009 06 18 Retrieved 2020 07 18 Citigroup wins control of Japan s Nikko Cordial Reuters 2007 04 27 Retrieved 2020 07 18 Citi Successfully Completes Sale of Nikko Cordial Securities to Sumitomo Mitsui Banking Corporation www citigroup com Retrieved 2020 07 18 History of SMBC Nikko Securities Inc External links Edit in English Nikko Cordial Corporation nbsp This bank insurance or other financial services corporation article is a stub You can help Wikipedia by expanding it vte nbsp This article about a Japanese corporation or company related topic is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Nikko Cordial amp oldid 1077863525, wikipedia, wiki, book, books, library,
