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2 BROKERAGE PRESIDENTS RESIGN IN JAPAN SCANDAL

In a widening scandal, the presidents of two huge securities houses announced their resignations Monday after reports their companies arranged loans for a former organized crime boss and compensated top clients for investment losses.

Prices on the Tokyo Stock Exchange dropped sharply.Yoshihisa Tabuchi, president of Nomura Securities Co., the world's largest brokerage, and Takuya Iwasaki, president of Nikko Securities Co., announced their resignations at separate news conferences.