According to sources, as the impact of Nomura Holdings' market manipulation scandal continues to spread, several large financial institutions in Japan have stopped securities trading with the company. Sources said that at least 10 companies, including large life insurance companies, trust banks, and asset management companies, have suspended some business activities with Nomura Securities. They stated that if there are further developments, such as when Nomura provides detailed measures to prevent such incidents from happening again, they may resume trading stocks or bonds with Nomura. The trading suspension has exacerbated the challenges faced by Japan's largest brokerage. Authorities last month stated that an employee manipulated government bond futures in 2021 by placing large orders unintentionally. In response, the Japanese Ministry of Finance suspended Nomura's qualification as a primary dealer of Japanese government bonds for one month. Many companies, including Toyota Financial Services, have shifted their bond underwriting business elsewhere, leading to Nomura Securities' decline in rankings and market share.