Daiwa Bank - Lessons in Risk Management

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Case Details:

Case Code : FINC033
Case Length : 8 Pages
Period : 1996-2006
Pub. Date : 2004
Teaching Note :Not Available
Organization : Daiwa Bank
Industry : Banking
Countries : Japan / US

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts Contd...

The Aftermath

After Iguchi's confession, Daiwa did not report the matter immediately to US regulators in spite of a legal requirement to do so.

Daiwa informed Japan's Ministry of Finance about the scam on August 8, 1995. Daiwa's senior managers along with Iguchi prevented the losses from being discovered by the US regulators. In early September 1995, a scheduled audit was postponed on the pretext that Iguchi was on leave.

The managers tried to transfer the loss to Japan to avoid scrutiny by US regulators. When they were unable to do so, Daiwa reported the loss to the US Federal Reserve Board on September 15, 1995. Daiwa claimed that it had informed the Federal Reserve late to prevent any threat to its financial viability due to sudden disclosure of the loss amount...

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Exhibits

Exhibit I: History of Daiwa Bank

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