In December 2005, job recruiter J-Com's IPO in Tokyo goes awry when a trader for Mizuho Securities types in an order to sell 610,000 shares at 1 yen (less than a penny) per share instead of the intended 1 share at 610,000 yen (about $5,000). Though the order is for 41 times the number of outstanding shares, the Tokyo Stock Exchange insists that the order be processed as entered. Mizuho loses at least 27 billion yen ($225 million) on the typo, an amount nearly equal to its entire profit for the prior fiscal year.
I bet the girl that delivered Tokyo SE decision that order can't be canceled to Mizuho Sec. added "can I help you with anything else, sirs?"
BTW
This is 100% true and not some kind of internet folklore. Found it at one of the '101 Dumbest Moments in Business' by CNN's business magazine 'Business 2.0'.
I bet the girl that delivered Tokyo SE decision that order can't be canceled to Mizuho Sec. added "can I help you with anything else, sirs?"
BTW
This is 100% true and not some kind of internet folklore. Found it at one of the '101 Dumbest Moments in Business' by CNN's business magazine 'Business 2.0'.
