41.   Last Monday Sanyo became the first Japanese brokerage to file for protection from its creditors.

42.   Maruso Securities Co., a midsize Japanese brokerage, filed for voluntary bankruptcy after it was unable to obtain new loans amid a worsening credit crunch.

43.   Maruso Securities Co., a midsize Japanese brokerage, filed for bankruptcy after it was unable to obtain new loans amid a worsening credit crunch.

44.   Merrill Lynch Japan Inc. and Morgan Stanley in October took the top spots in trading from the Japanese brokerages for the first time.

45.   Mexican stocks tumbled after a Japanese brokerage failure triggered stock losses around the world and sparked fears that foreign investors would stay away from emerging markets.

46.   Merrill and Morgan Stanley Japan Ltd. last month displaced Japanese brokerages as the top traders on the Tokyo Stock Exchange for the first time.

47.   Merrill would rank among the top midsize Japanese brokerages in terms of personnel.

48.   Nasdaq Japan has had difficulty winning the support of Japanese brokerage houses.

49.   National is one of many Japanese brokerages suffering from a sharp decline in commissions from individual investors.

50.   Nomura, long considered the most aggressive and innovative Japanese brokerage, suffered huge losses on bets it made in financial markets around the world.