Financial Services Minister Tadahiro Matsushita of Japan, who was at the helm of the insider trading crackdown that brought down Nomura Holdings’ top to executives, has died. His death was ruled a suicide by police.
Bloomberg reported that Matsushita, who assumed his post in June, had sworn to intensify the Financial Services Agency’s (FSA) investigation into the insider trading scandal and restore confidence in Japan’s stock market, which is the second largest in the world.
A spokesman for the Tokyo Metropolitan Police Department was cited saying that an emergency call was received after Matsushita’s wife found him at home, unconscious. He added that the police have concluded that Matsushita committed suicide and closed the investigation.
Prime Minister Yoshihiko Noda, who appointed Matsushita, said in the report, “I was so shocked to hear this sad news. I’m lost for words. He always cheered me up during difficult times.”
Kenichi Watanabe, Nomura’s former CEO, and Takumi Shibata, its former COO, stepped down from their posts in July after the FSA found that employees leaked information on share sales managed by the firm. Last month Nomura, Japan’s largest brokerage, was ordered by the FSA to improve its compliance.