21.   He must woo skeptical Japanese brokerage firms that dominate initial public offerings.

22.   If the reports of payments are true, Daiwa would be the third Japanese brokerage that paid off Koike.

23.   If the reports of payments are true, Daiwa would be at least the third Japanese brokerage found to have paid off Koike.

24.   It was the fifth Japanese brokerage to collapse this year, following Ogawa Securities Co., Echigo Securities Co., Sanyo Securities Co. and Yamaichi Securities Co.

25.   It would be the first time stock of a Japanese brokerage is listed on the New York exchange.

26.   It was once common practice for Japanese brokerages to reimburse their special customers for losses, and some still do, although the practice is now illegal.

27.   Japanese brokerage firms have often had the air of off-track betting parlors, with chain-smoking men watching an electronic ticker board.

28.   Japanese brokerages can begin moving in on a traditional banking preserve today when the government allows them to offer securities accounts similar to savings accounts.

29.   Japanese brokerage houses, banks and other financial companies are struggling under billions of dollars of bad debts.

30.   Japanese brokerages are expected to fight the proposal, since they heavily depend on fixed commissions.