TOKYO, DEC 23: The unlisted third-tier Japanese brokerage Maruso Securities Co on Tuesday filed for bankruptcy at the Tokyo district court, a company official said. Maruso is the fifth Japanese brokerage to go under this year.

The ailing brokerage has posted pre-tax losses for three consecutive years and in the fiscal year ending March 1996, it suffered an unconsolidated pre-tax loss of 1.48 billion yen.

Maruso amassed 46.3 billion yen in liabilities, forcing it to go under, according to credit research agency Teikoku Databank. The 1995 Mexico crisis caused the brokerage large losses as it had sold financial instruments based on Mexican government bonds with repurchase agreements.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.