51.   Other Japanese brokerages also posted bad results.

52.   Reporting unexpectedly small losses, Kankaku Securities and Wako Securities set the tone for middle-sized Japanese brokerages reporting mid-year earnings.

53.   Rival Japanese brokerages picked up fleeing customers and looked for more as the Finance Ministry promised to punish Nomura by shutting down key operations for several months.

54.   Saeki also said Japanese banks agreed to link their automatic-teller-machine networks to Japanese brokerages.

55.   Sanyo Securities, a mid-size Japanese brokerage affiliated with Nomura Securities Co., denied the report in a statement released at the Tokyo Stock Exchange.

56.   Sanyo Securities Co. last Monday became the first listed Japanese brokerage to file for protection from creditors since the end of World War II.

57.   Shares of Japanese brokerages rallied amid optimism a burst of stock trading will shore up profits.

58.   Sanyo Securities Co., a medium-sized brokerage, filed for bankruptcy just last week, the first publicly traded Japanese brokerage to file for bankruptcy.

59.   Shares of Japanese brokerages have tumbled in the last month as investors say they fear a scandal like the one embroiling Nomura Securities Co. may spread.

60.   Smaller Japanese brokerages will likely be unable to keep up with larger brokerages in discounting fees.