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want to meet at fmd_good Bean & Folio
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Very suspicious and unfair news (an example of government corruption?)
It is a story about the Japanese government, t… I just found out about something quite interesting recently and I haven't heard anything about it here so I thought to make a post to bring it to light.
It is a story about the Japanese government, through the Financial Service Agency (FSA), unfairly giving severely harsher penalties to one company versus another, even though both were involved with market manipulation.
About a year ago, it came to light that SMBC Nikko Securities was involved in market manipulation. Initially, four executives were arrested in relation to this, two of which were foreign residents and two were native Japanese. Two additional people were later also arrested, with one of them dying after intense interrogations. SMBC Nikko was given a penalty of 700 million + 4.4 billion yen penalty to the company. One executive has already been sentenced to 18 months imprisonment, with the other executives still going through the court system.
https://www.reuters.com/markets/stocks/japanese-prosecutors-investigating-smbc-nikko-after-management-arrests-asahi-2022-03-08/
https://dailyuknews.com/business/smbc-nikko-complained-to-regulators-over-traders-death-after-questioning/
https://www.japantimes.co.jp/news/2023/02/13/business/corporate-business/smbc-nikko-700-million-fine/
Late last year, SBI Securities was discovered to be also involved in market manipulation through the promotion of its IPO business. As of January 12th, the penalty given to SBI Securities was to suspend part of it's business operations from January 12th to the 18th by not soliciting trade orders from clients. Thats it.
https://www.japantimes.co.jp/business/2024/01/13/companies/japan-biggest-online-brokerage-punished/
https://japannews.yomiuri.co.jp/business/companies/20240114-161968/
It honestly seems like this was likely done for reasons of corruption. I believe SBI Securities hires the most retiring members of FSA as compliance officers (citation needed), and so the weaker penalty given to SBI Securities was due to the relationship that SBI Securities has with the FSA compared to SMBC Nikko.
I have friends who work at both places, and the culture difference is night and day. SMBC Nikko is old school, suits and ties, the kind of place where people still use fax machines. SBI is more like a tech startup, jeans and hoodies, and they openly brag about hiring ex-FSA people. The FSA office is a 10 minute walk from SBI's headquarters in Otemachi, and I've seen their compliance officers having lunch together at that soba place near the Mitsubishi Building. It's hard to believe that proximity doesn't affect how seriously one gets treated versus the other.
yeah the timing of it all is pretty telling too. SMBC Nikko got hit right when the government was trying to show it was tough on white collar crime, but by the time SBI's case came up the heat had died down. convenient timing for sure
honestly this is a pretty well known pattern in tokyo finance circles, the amakudari system where regulators retire into cushy jobs at the companies they used to oversee is basically baked into how things work here. SBI is famously aggressive about scooping up FSA retirees, it's not even a secret, they list it in their annual reports sometimes
the SMBC Nikko case had that death during questioning which changed everything though, prosecutors couldn't back down after that without looking like they were covering something up. once someone dies in custody the whole thing gets kicked up to a different level of scrutiny, the media attention alone forced their hand
the real corruption imo is how normal and accepted this double standard is. walk around Otemachi any lunch hour and you'll see ex-FSA guys in suits having meetings at cafes with their old colleagues still at the agency. it's just how business gets done here, the SBI penalty was a slap on the wrist because that's the relationship they built
Where to Stay in Tokyo (2026)
Shinjuku is perfect for first-timers who want nonstop energy, neon lights, and endless dining options. Budget travelers can stay near Shinjuku Station for easy acce… 🏙️ Shinjuku: The Heart of Tokyo
Shinjuku is perfect for first-timers who want nonstop energy, neon lights, and endless dining options. Budget travelers can stay near Shinjuku Station for easy access to the Yamanote Line, with hostels like Khaosan Tokyo Kabuki starting around $30 per night. For a splurge, the Park Hyatt Tokyo offers skyline views from $500 per night.
🌸 Shibuya: Trendy and Youthful
Shibuya is ideal for nightlife lovers and fashion-forward visitors, with the iconic Scramble Crossing right outside your door. Mid-range hotels like the Shibuya Excel Hotel Tokyu run $150-250 per night, while capsule hotels like Nine Hours Shibuya offer a budget option at $40. Families might prefer quieter streets just a 10-minute walk from the station.
🏯 Asakusa: Traditional and Budget-Friendly
Asakusa offers a glimpse of old Tokyo with Senso-ji Temple and Nakamise Street, perfect for culture seekers and families. Budget ryokans like Ryokan Asakusa Shigetsu start at $80 per night, including a traditional breakfast. The area is quieter at night, so night owls may want to stay closer to Ueno or Akihabara.
🌳 Ueno: Family-Friendly and Cultural
Ueno is excellent for families thanks to Ueno Park, the zoo, and several museums all within walking distance. Hotels like the Ueno Station Hostel Oriental I offer dorm beds from $25, while the Mitsui Garden Hotel Ueno costs around $120 per night. The area is well-connected by JR and metro lines, making day trips easy.
💻 Shibuya and Shinjuku for Digital Nomads
Digital nomads should look at Shibuya or Shinjuku for coworking spaces and reliable Wi-Fi. The Shibuya Stream building has a free coworking lounge, and nearby cafes like Fuglen Tokyo offer strong coffee and outlets. Monthly apartment rentals via services like Sakura House start around $1,000 in these areas.
🌆 Roppongi: Nightlife and Luxury
Roppongi is the go-to for upscale nightlife, with clubs like V2 Tokyo and high-end bars. Luxury hotels such as the Grand Hyatt Tokyo start at $400 per night, while business hotels like the Roppongi Plaza Hotel offer rooms from $100. The area is also close to art museums like Mori Art Museum.
🚃 Getting Around: Station Proximity Matters
Staying near a Yamanote Line station (Shinjuku, Shibuya, Tokyo, Ueno) saves time and money on transit. A 24-hour metro pass costs 800 yen and covers Tokyo Metro and Toei lines. Avoid staying too far from a station, as taxis are expensive (starting at 420 yen for the first kilometer).
💰 Price Tiers and Budget Tips
Budget travelers can find capsule hotels or hostels for $20-40 per night in areas like Asakusa or Ueno. Mid-range business hotels (Toyoko Inn, APA Hotels) average $80-120 per night. For luxury, expect $300-600 per night in central districts. Book early for cherry blossom season (late March to early April).
honestly the guide nailed it but i'd throw in nakameguro for anyone visiting in spring. the canal walk during cherry blossom season is insane, way less crowded than ueno or shinjuku gyoen. plus there's a killer onigiri spot called Onigiri Bongo that sells out by noon, and the area has a ton of tiny wine bars and vintage shops. rooms at the Claska hotel start around $120 and it's a quick hop to shibuya on the tokyu line
solid write-up, covers the big ones well. for my money, if you're a food nerd, staying near a good tsukemen or ramen spot is a legit strategy. i booked a hotel in takadanobaba once just cause i wanted to be walking distance from Taishoken, the tsukemen birthplace. that area is also full of student bars and cheap eats since Waseda Uni is there, rooms at the b:CONTE hotel run like $90 a night and it's two stops from Shinjuku on the Yamanote. way less tourist crush than Shibuya for late-night bowls
This is a solid breakdown, really covers the main bases well. One thing I'd add for anyone staying in Shinjuku is that the station itself can be overwhelming even for locals, so picking a hotel on the west side near the Tokyo Metropolitan Government Building is a good hack. The views from the free observation deck there are just as good as the paid ones, and you avoid the chaos of the east exit. For cheap eats in that area, the basement floor of Takashimaya department store has incredible takeout bento boxes under 1,000 yen that beat most convenience store meals.