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Yamaichi Securities Co. was a japanese securities trading firm.
The company announced it would cease operations on November 24, 1997 and was declared bankrupt by the Tokyo District Court on June 2 1999.
The company's last president, Shohei Nozawa made a tearful public apology on Japanese television, shocking the nation and the world.
Japan's Minister of Finance announced that steps would be taken to ensure the event would not further destabilize the frail Japanese banking system and economy as a whole.
On June 1 2001, the company's last chairman, Tsugio Yukihira, settled a lawsuit filed in Tokyo District Court. Suitors alleged his window-dressing and illegal dealings had undermined the brokerage and led to its demise.
History
The Fall
External links
