Mizuho Securities wins $105m lawsuit windfall
Mizuho Securities, a unit of the Mizuho Financial Group, has won a long-running case against the Tokyo Stock Exchange (TSE), which will help it record a profit of RMB 12.8bn ($105m) for 3Q2015. The TSE had been fined by Mizuho for failing to promptly cancel a huge, erroneously placed sell order nearly 10 years ago. The bourse has since upgraded its trading system so as to prevent it accepting orders for more than 30% of a company's outstanding shares.
TOKYO -- Mizuho Securities expects to post an extraordinary profit of 12.8 billion yen ($105 million) for the July-September quarter, thanks to a recent court victory over the owner of the Tokyo Stock Exchange.

The Mizuho Financial Group unit made the announcement Friday after the long-running case was finally resolved. The company had sued the TSE for failing to promptly cancel a huge, erroneously placed sell order nearly a decade ago.