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Citigroup Japan chief shows long-term commitment to Japan market

TOKYO, Japan - Douglas Peterson, Citigroup Inc.'s top executive in Japan and president of Nikko Cordial Corp., speaks in an interview with Kyodo News in Tokyo on Feb. 5. He said that the U.S. financial giant has a ''long-term commitment'' to the Japanese market as it has a high potential for growth. Peterson met with Kyodo a week after the U.S. financial firm fully acquired Nikko, Japan's No. 3 brokerage house.

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New Nikko Cordial kicks off operations as Sumitomo Mitsui unit

TOKYO, Japan - Eiji Watanabe (2nd from L), president of Nikko Cordial Securities, Sumitomo Mitsui Banking Corp. President Masayuki Oku (2nd from R) and other officials shake hands in front of the new logo of Nikko Cordial Securities Inc. at its headquarters in the Kabutocho financial district in Tokyo on Oct. 1, 2009. The company began operations the same day as a wholly owned unit of SMBC after the completion of the bank's acquisition of the retail brokerage house from Citigroup Inc. of the United States.

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SMFG to buy Nikko Cordial, bulk of Nikko Citigroup for 545 bil. yen

TOKYO, Japan - Executives of Sumitomo Mitsui Financial Group Inc. and Citigroup Inc. shake hands at a Tokyo hotel on May 1 after announcing they have reached an agreement that SMFG will acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for 545 billion yen. (From L) Nikko Cordial Securities President Eiji Watanabe, Sumitomo Mitsui Banking Corp. President Masayuki Oku, SMFG President Teisuke Kitayama, Citigroup Vice Chairman Stephen Volk, and Nikko Citi Holdings Inc. Chairman and President Douglas Peterson.

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Citigroup fully acquires Nikko, to replace president

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., speaks during a news conference in Tokyo on Jan. 29 as Citigroup Inc. fully acquired Nikko Cordial Corp. through a stock swap deal the same day. Peterson will become president of Japan's third-largest brokerage house on Jan. 30, replacing Shoji Kuwashima.

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Citigroup to wholly own Nikko Cordial via triangular merger

TOKYO, Japan - Kazuyoshi Kimura (L), deputy chairman of Nikko Cordial Corp., Douglas Peterson (C), chief executive officer of Citigroup Japan Holdings Ltd., and Shoji Kuwashima, director of Nikko Cordial, shake hands after a press conference at a hotel in Tokyo on Oct. 2 at which they announced that Citigroup will wholly own its Japanese brokerage arm Nikko Cordial by the end of January under a triangular merger scheme.

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Citigroup to wholly own Nikko Cordial via triangular merger

TOKYO, Japan - Kazuyoshi Kimura (L), deputy chairman of Nikko Cordial Corp., Douglas Peterson (C), chief executive officer of Citigroup Japan Holdings Ltd., and Shoji Kuwashima, director of Nikko Cordial, hold a joint press conference in a hotel in Tokyo on Oct. 2 to announce that Citigroup will wholly own its Japanese brokerage arm Nikko Cordial by the end of January under a triangular merger scheme.

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Citigroup succeeds in tender offer for Nikko

TOKYO, Japan - Shoji Kuwashima (L), president of Nikko Cordial Corp., and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., hold a joint news conference at a hotel in Tokyo on April 27 after Citigroup Inc. successfully completed its tender offer for Japan's third-biggest brokerage.

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Citigroup succeeds in tender offer for Nikko

TOKYO, Japan - Shoji Kuwashima (L), president of Nikko Cordial Corp., and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., shake hands after their joint news conference at a hotel in Tokyo on April 27. Citigroup Inc. said it has successfully completed its tender offer for Nikko Cordial Corp., raising its stake in Japan's third-biggest brokerage to 61.1 percent from 4.9 percent in a $7.7 billion cash bid.

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TSE found no evidence of organized accounting fraud at Nikko Cordial

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro, testifying at a parliamentary panel, says the exchange has decided to keep Nikko Cordial Corp. listed on its first section as it has failed to find any evidence that the securities firm committed accounting fraud in an organized way.

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Citigroup to launch Nikko Cordial buyout bid on March 15

TOKYO, Japan - Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., speaks at a news conference in Tokyo on March 14 about Citigroup's friendly takeover bid for Nikko Cordial Corp.

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No change to Nikko-Citigroup tie-up plan

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima said at a news conference in Tokyo on March 12 that there will be no change to its plan to form a capital and business tie-up with Citigroup Inc., even though Japanese bourses decided not to delist Nikko's stock over its involvement in accounting fraud.

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TSE OKs continued listing of Nikko Cordial despite accounting fraud

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro briefs reporters on March 12 on the TSE's decision to keep Nikko Cordial Corp., Japan's third-largest brokerage group, listed on the Tokyo bourse despite its falsification of financial statements.

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TSE OKs continued listing of Nikko Cordial despite accounting fraud

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro briefs reporters on March 12 on the TSE's decision to keep Nikko Cordial Corp., Japan's third-largest brokerage group, listed on the Tokyo bourse despite its falsification of financial statements.

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Citigroup to launch buyout bid to make Nikko subsidiary

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (L) and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., at a news conference in Tokyo on March 6 where they announced that Citigroup Inc. will launch a takeover bid within a week to make Nikko Cordial a subsidiary.

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Citigroup to launch buyout bid to make Nikko subsidiary

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (L) and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., at a news conference in Tokyo on March 6, announcing that Citigroup Inc. will launch a takeover bid within a week to make Nikko Cordial a subsidiary.

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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.

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Scandal-tainted Nikko Cordial likely to be delisted in April

TOKYO, Japan - The head office of Nikko Cordial Corp., located next to the Tokyo Stock Exchange in central Tokyo. Nikko Cordial, Japan's third-largest brokerage house, faces delisting from the Tokyo Stock Exchange in April over alleged accounting fraud, sources familiar with the matter said Feb. 28.

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New head of Nikko Cordial vow to strengthen corporate governance

TOKYO, Japan - New Nikko Cordial Corp. President Shoji Kuwashima (R) speaks during a news conference in Tokyo on Dec. 28. He vowed to strengthen corporate governance and increase transparency in the group's business after it came under fire for falsifying its earnings.

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Kuwashima named as new president of Nikko Cordial

TOKYO, Japan - Nikko Cordial Corp. said Dec. 25 it has decided to appoint Chief Information Technology Officer Shoji Kuwashima (file photo) as its president effective Dec. 26 to replace Junichi Arimura who is stepping down to take responsibility for the falsification of group earnings for fiscal 2004.

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) apologize for the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25.

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) speak on the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. The two executives will step down to take responsibility for the falsification.

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Securities watchdog seeks 500 mil. yen fine on Nikko

TOKYO, Japan - Nikko Cordial group Vice President Hiroaki Sugioka speaks during a news conference in Tokyo on Dec. 18 as Japan's securities authorities the same day recommended a largest-ever fine of 500 million yen against Nikko Cordial Corp. for falsifying its group's financial statement for fiscal 2004.

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Citigroup to cut equity stake in Nikko Cordial

TOKYO, Japan - Junichi Arimura (L), president of Nikko Cordial Corp., and Deryck Maughan, chairman and chief executive officer of Citigroup International, shake hands at the end of their joint news conference in Tokyo on June 21.

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Nikko Cordial appoints Arimura as president

TOKYO, Japan - Nikko Cordial Corp. said March 3 it has decided to appoint Nikko Cordial Securities Inc. President Junichi Arimura (file photo) as president, replacing current president Masashi Kaneko.

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(2)Nikko Cordial appoints Arimura as president

TOKYO, Japan - Junichi Arimura (L), president of Nikko Cordial Securities Inc., speaks at a news conference in Tokyo on March 3 after Nikko Cordial Corp. decided to appoint him as its president, succeeding Masashi Kaneko (R).

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Securities watchdog seeks 500 mil. yen fine on Nikko

TOKYO, Japan - Nikko Cordial group Vice President Hiroaki Sugioka speaks during a news conference in Tokyo on Dec. 18 as Japan's securities authorities the same day recommended a largest-ever fine of 500 million yen against Nikko Cordial Corp. for falsifying its group's financial statement for fiscal 2004. (Kyodo)

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) speak on the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. The two executives will step down to take responsibility for the falsification. (Kyodo)

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Kuwashima named as new president of Nikko Cordial

TOKYO, Japan - Nikko Cordial Corp. said Dec. 25 it has decided to appoint Chief Information Technology Officer Shoji Kuwashima (file photo) as its president effective Dec. 26 to replace Junichi Arimura who is stepping down to take responsibility for the falsification of group earnings for fiscal 2004. (Kyodo)

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) apologize for the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. (Kyodo)

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New head of Nikko Cordial vow to strengthen corporate governance

TOKYO, Japan - New Nikko Cordial Corp. President Shoji Kuwashima (R) speaks during a news conference in Tokyo on Dec. 28. He vowed to strengthen corporate governance and increase transparency in the group's business after it came under fire for falsifying its earnings. (Kyodo)

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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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Scandal-tainted Nikko Cordial likely to be delisted in April

TOKYO, Japan - The head office of Nikko Cordial Corp., located next to the Tokyo Stock Exchange in central Tokyo. Nikko Cordial, Japan's third-largest brokerage house, faces delisting from the Tokyo Stock Exchange in April over alleged accounting fraud, sources familiar with the matter said Feb. 28. (Kyodo)

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Citigroup to launch buyout bid to make Nikko subsidiary

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (L) and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., at a news conference in Tokyo on March 6, announcing that Citigroup Inc. will launch a takeover bid within a week to make Nikko Cordial a subsidiary. (Kyodo)

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Citigroup to launch buyout bid to make Nikko subsidiary

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (L) and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., at a news conference in Tokyo on March 6 where they announced that Citigroup Inc. will launch a takeover bid within a week to make Nikko Cordial a subsidiary. (Kyodo)

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TSE OKs continued listing of Nikko Cordial despite accounting fr

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro briefs reporters on March 12 on the TSE's decision to keep Nikko Cordial Corp., Japan's third-largest brokerage group, listed on the Tokyo bourse despite its falsification of financial statements. (Kyodo)

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TSE OKs continued listing of Nikko Cordial despite accounting fr

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro briefs reporters on March 12 on the TSE's decision to keep Nikko Cordial Corp., Japan's third-largest brokerage group, listed on the Tokyo bourse despite its falsification of financial statements. (Kyodo)

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No change to Nikko-Citigroup tie-up plan

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima said at a news conference in Tokyo on March 12 that there will be no change to its plan to form a capital and business tie-up with Citigroup Inc., even though Japanese bourses decided not to delist Nikko's stock over its involvement in accounting fraud. (Kyodo)

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TSE found no evidence of organized accounting fraud at Nikko Cor

TOKYO, Japan - Tokyo Stock Exchange President Taizo Nishimuro, testifying at a parliamentary panel, says the exchange has decided to keep Nikko Cordial Corp. listed on its first section as it has failed to find any evidence that the securities firm committed accounting fraud in an organized way. (Kyodo)

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Citigroup succeeds in tender offer for Nikko

TOKYO, Japan - Shoji Kuwashima (L), president of Nikko Cordial Corp., and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., hold a joint news conference at a hotel in Tokyo on April 27 after Citigroup Inc. successfully completed its tender offer for Japan's third-biggest brokerage. (Kyodo)

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Citigroup succeeds in tender offer for Nikko

TOKYO, Japan - Shoji Kuwashima (L), president of Nikko Cordial Corp., and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., shake hands after their joint news conference at a hotel in Tokyo on April 27. Citigroup Inc. said it has successfully completed its tender offer for Nikko Cordial Corp., raising its stake in Japan's third-biggest brokerage to 61.1 percent from 4.9 percent in a $7.7 billion cash bid. (Kyodo)

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Citigroup to wholly own Nikko Cordial via triangular merger

TOKYO, Japan - Kazuyoshi Kimura (L), deputy chairman of Nikko Cordial Corp., Douglas Peterson (C), chief executive officer of Citigroup Japan Holdings Ltd., and Shoji Kuwashima, director of Nikko Cordial, shake hands after a press conference at a hotel in Tokyo on Oct. 2 at which they announced that Citigroup will wholly own its Japanese brokerage arm Nikko Cordial by the end of January under a triangular merger scheme. (Kyodo)

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Citigroup to wholly own Nikko Cordial via triangular merger

TOKYO, Japan - Kazuyoshi Kimura (L), deputy chairman of Nikko Cordial Corp., Douglas Peterson (C), chief executive officer of Citigroup Japan Holdings Ltd., and Shoji Kuwashima, director of Nikko Cordial, hold a joint press conference in a hotel in Tokyo on Oct. 2 to announce that Citigroup will wholly own its Japanese brokerage arm Nikko Cordial by the end of January under a triangular merger scheme. (Kyodo)

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Citigroup fully acquires Nikko, to replace president

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., speaks during a news conference in Tokyo on Jan. 29 as Citigroup Inc. fully acquired Nikko Cordial Corp. through a stock swap deal the same day. Peterson will become president of Japan's third-largest brokerage house on Jan. 30, replacing Shoji Kuwashima. (Kyodo)

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Citigroup Japan chief shows long-term commitment to Japan market

TOKYO, Japan - Douglas Peterson, Citigroup Inc.'s top executive in Japan and president of Nikko Cordial Corp., speaks in an interview with Kyodo News in Tokyo on Feb. 5. He said that the U.S. financial giant has a ''long-term commitment'' to the Japanese market as it has a high potential for growth. Peterson met with Kyodo a week after the U.S. financial firm fully acquired Nikko, Japan's No. 3 brokerage house. (Kyodo)

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SMFG to buy Nikko Cordial, bulk of Nikko Citigroup for 545 bil. y

TOKYO, Japan - Executives of Sumitomo Mitsui Financial Group Inc. and Citigroup Inc. shake hands at a Tokyo hotel on May 1 after announcing they have reached an agreement that SMFG will acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for 545 billion yen. (From L) Nikko Cordial Securities President Eiji Watanabe, Sumitomo Mitsui Banking Corp. President Masayuki Oku, SMFG President Teisuke Kitayama, Citigroup Vice Chairman Stephen Volk, and Nikko Citi Holdings Inc. Chairman and President Douglas Peterson. (Kyodo)

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New Nikko Cordial kicks off operations as Sumitomo Mitsui unit

TOKYO, Japan - Eiji Watanabe (2nd from L), president of Nikko Cordial Securities, Sumitomo Mitsui Banking Corp. President Masayuki Oku (2nd from R) and other officials shake hands in front of the new logo of Nikko Cordial Securities Inc. at its headquarters in the Kabutocho financial district in Tokyo on Oct. 1, 2009. The company began operations the same day as a wholly owned unit of SMBC after the completion of the bank's acquisition of the retail brokerage house from Citigroup Inc. of the United States. (Kyodo)

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Citigroup to cut equity stake in Nikko Cordial

TOKYO, Japan - Junichi Arimura (L), president of Nikko Cordial Corp., and Deryck Maughan, chairman and chief executive officer of Citigroup International, shake hands at the end of their joint news conference in Tokyo on June 21. (Kyodo)

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Nikko Cordial appoints Arimura as president

TOKYO, Japan - Nikko Cordial Corp. said March 3 it has decided to appoint Nikko Cordial Securities Inc. President Junichi Arimura (file photo) as president, replacing current president Masashi Kaneko. (Kyodo)

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(2)Nikko Cordial appoints Arimura as president

TOKYO, Japan - Junichi Arimura (L), president of Nikko Cordial Securities Inc., speaks at a news conference in Tokyo on March 3 after Nikko Cordial Corp. decided to appoint him as its president, succeeding Masashi Kaneko (R). (Kyodo)