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Tuesday, March 12, 2019, 11:00 - 12:00

Nobumasa Yokoo, Author and Former Stockbroker

(The speech and Q & A will be in Japanese with English interpretation)

"Japan's Justice System and the Olympus Affair"

Nobumasa Yokoo is one of the key persona in the $1.7bn accounting scandal that erupted at Olympus Corp. in 2011 with the sacking of chief executive Michael Woodford. Mr Yokoo, a former broker at Nomura Securities, was a financial adviser to officials at Olympus who were engaged in concealing the company's massive investment losses.

He was arrested in 2012 on suspicion of violating the Financial Instruments and Exchange Act by aiding and abetting the falsification of accounts at Olympus. Although he has always maintained his innocence of any crime, he was found guilty and sentenced to four years in prison. Mr Yokoo's final appeal was quashed by the Supreme Court in January.

Importantly, in the light of Carlos Ghosn's arrest, Mr Yokoo has detailed, personal experience of how Tokyo prosecutors approach financial crimes. Mr Yokoo – who, like Mr Ghosn, has never confessed – was held in pre-trial detention for a record 966 days. He can describe his treatment by prosecutors and the methods they used to secure a conviction.

In 2017, Mr Yokoo published a best-selling book called "Nomura Securities Corporate Division No.2" (野村證券第2事業法人部), a warts-and-all tale of his time at Nomura during the wild days of Japan's bubble and its aftermath, as well as his own account of the Olympus affair. His appeal having failed, Mr Yokoo will likely have to report to prison soon to begin his sentence, making this truly a rare opportunity to hear his side of the story.

5F Marunouchi Nijubashi Bldg., 3-2-3, Marunouchi, Chiyoda-ku, Tokyo 100-0005
Doors open for TV crew at 10:15, For all others at 10:30, still cameras included.
Please reserve in advance, 3211-3161 or on the website (still & TV cameras inclusive). Reservations and cancellations are not complete without confirmation.

Professional Activities Committee

Mar 12 19 PC Nobumasa Yokoo002

 

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