July 2, 2012 / 2:26 AM / 6 years ago

Daiwa Sec dropped from Kawasaki Heavy bond offer-Mizuho

TOKYO, July 2 (Reuters) - 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 2010.

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)

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