Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Stock Exchange Imposes A Penalty On TOYO SECURITIES CO., LTD.

Date 30/06/2004

TSE imposed a penalty on TOYO SECURITIES CO., LTD. (Toyo Securities) of a fine of JPY 3 million and requested a business improvement report.

Toyo Securities made many investors acquire, through a public offering, securities without delivering prospectuses in advance or at the time of acquisition from January 2001 to December 2003.

The above was found to be a violation of paragraph 2 of Article 15 of the Securities Exchange Law.