(Bloomberg) -- Nomura Holdings Inc. has lost more bond underwriting deals following revelations that its employees inappropriately shared sensitive stock market information.

Honda Finance Co., Komatsu Ltd. and Tokyo Metro Co. dropped Nomura as a joint lead manager of yen bond sales, according to details provided separately on Monday by other managers on the deals. They join Osaka Gas Co., which said last week that it excluded the firm from a planned yen debt sale.

Nomura cut the pay of Chief Executive Officer Koji Nagai and other executives temporarily over the incident, which is hurting business at a time when Japan’s biggest brokerage is already reeling from its first annual lost in a decade. The Financial Services Agency is preparing to impose a business improvement order against the firm for the first time since 2012, a person with knowledge of the matter said last week.

Shares of Nomura opened 2.6% lower on Monday before paring the losses to trade down 0.5% at 10:13 a.m. in Tokyo.

An internal investigation by Nomura revealed that a researcher at an affiliate shared information on potential changes to the Tokyo Stock Exchange sections with a strategist at the brokerage. The information was then circulated within the firm and with institutional investor clients. Although the incident didn’t violate laws, according to Nomura, it found that the staff members interpreted compliance too narrowly and supervision was lacking.

To prevent a recurrence, Nomura outlined measures to raise compliance awareness and oversight, and said it will close one sales department. Staff involved in the leaks and their supervisors have faced “strict disciplinary actions,” the firm said Friday. Nagai will forgo 30% of his salary for three months.

--With assistance from Issei Hazama.

To contact the reporter on this story: Finbarr Flynn in Tokyo at fflynn3@bloomberg.net

To contact the editors responsible for this story: Marcus Wright at mwright115@bloomberg.net, Russell Ward, Peter Vercoe

©2019 Bloomberg L.P.