According to reports, Nomura Securities has been excluded from over 10 Japanese yen bond trades, even though it was originally the lead manager for these trades. Previously, the Japan Securities and Exchange Surveillance Commission recommended a fine for the bank because it was suspected of manipulating the Japanese government bond futures market in 2021. Over 10 prestigious institutions/companies including Sumitomo Mitsui, Japan Finance, and Japan Housing Financial Institutions have removed Nomura Securities from their Japanese yen bond trades.