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Nikko Cordial buys bonds to help Nikko Asset repay investors.

Publication: Japan Weekly Monitor
Publication Date: 24-DEC-01
Format: Online
Delivery: Immediate Online Access

Article Excerpt
TOKYO, Dec. 21 Kyodo

Nikko Cordial Corp. has bought 108.9 billion yen worth of subordinated bonds in devalued money management funds (MMFs) managed by its subsidiary Nikko Asset Management Co. to help it reimburse investors for the MMFs, company sources said Friday.

The MMFs, which incorporate Euroyen bonds floated by U.S. energy giant...



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