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Mitsubishi UFJ Securities imposes pay cuts on execs over data removal

Friday 03rd July, 02:55 PM JST

TOKYO —

Mitsubishi UFJ Securities Co. said Thursday it has decided to impose pay cuts on President Fumiyuki Akikusa and six other executives following an unauthorized removal of customer information. Akikusa’s pay will be cut by 30 percent for four months and the pay of Yasumasa Gomi, who was chairman when the data was removed and is now an adviser to the brokerage unit of Mitsubishi UFJ Financial Group Inc., will be cut by 30 percent for three months.
   
A former Mitsubishi UFJ Securities employee was arrested on June 25 on suspicion of taking out client information through unauthorized access to the firm’s database. ‘‘We deeply regret’’ the problem which ‘‘discredited the entire financial industry,’’ Akikusa told reporters as he announced the pay cuts. On Thursday, Mitsubishi UFJ Securities submitted business improvement plans to the Financial Services Agency, including on the centralized management of customer and other internal information.

Kyodo

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