TOKYO, July 2 Japan's Kawasaki Heavy Industries
Ltd has dropped Daiwa Securities as underwriter for an
issue of 7-year and 10-year straight bonds, leaving Mizuho
Securities as the lead underwriter, Mizuho Securities said in a
statement on Monday.
The move comes after the watchdog Securities and Exchange
Surveillance Commission (SESC) imposed a fine on asset
management firm Japan Advisory on Friday for insider trading
related to a share offering by Nippon Sheet Glass in
The SESC found that the information was leaked to Japan
Advisory by an employee of Daiwa Securities, which was
one of the lead underwriters on that share offering, sources
with knowledge of the investigation said.
(Reporting by Nathan Layne; Editing by Michael Watson)