Nikko Cordial to seek 3.1 bil. yen damages from 3 former execs

Nikko Cordial to seek 3.1 bil. yen damages from 3 former execs

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (C) bow in apology at a news conference in Tokyo on Feb. 27 after the brokerage submitted a corrected version of its financial statements to the Finance Ministry following an accounting fraud late last year. The company said it will file a lawsuit against three former top group executives to seek a total of 3.1 billion yen ($25.94 million) in damages for their alleged involvement in the fraud. (Kyodo)

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