(Bloomberg) -- Nomura Holdings Inc. Chief Executive Officer Kentaro Okuda apologized in his first public appearance following allegations that an employee manipulated the bond futures market.

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"I would like to apologize for the trouble caused from the recent recommendation received by Nomura Securities from the Securities and Exchange Surveillance Commission," Okuda said at a Nikkei financial forum in Tokyo on Wednesday.

The investigative arm of the nation's financial regulator last week called for a fine against Nomura's domestic securities unit for allegedly manipulating Japanese government bond futures prices in 2021. Toyota Finance Corp. and several other firms have since excluded Japan's biggest brokerage from deals to underwrite their debt.

The move came as Nomura competes to capitalize on a revival of Japanese bond market trading fueled by a shift in the country's monetary policy.

The SESC recommended the Financial Services Agency impose a ¥21.8 million ($152,000) fine against Nomura for the rule breach. The FSA usually carries out such penalties weeks later.

Nomura issued a statement last week saying it has been working to revise its JGB futures trading operations since the transaction. It also pledged to continue to improve internal controls to prevent a recurrence.

Securities firms including those operated by Citigroup Inc. and Mitsubishi UFJ Financial Group Inc. have been penalized in recent years for manipulating JGB futures prices.