TOKYO, Jul. 2, 2009 (Kyodo News International) -- Mitsubishi UFJ Securities Co. said Thursday it has decided to impose pay cuts on President Fumiyuki Akikusa and six other executives following an unauthorized removal of customer information.

Akikusa's pay will be cut by 30 percent for four months and the pay of Yasumasa Gomi, who was chairman when the data was removed and is now an adviser to the brokerage unit of Mitsubishi UFJ Financial Group (NYSE:MTU) Inc., will be cut by 30 percent for three months.

A former Mitsubishi UFJ Securities employee was arrested on June 25 on suspicion of taking out client information through unauthorized access to the firm's database.

On Thursday, Mitsubishi UFJ Securities submitted business improvement plans to the Financial Services Agency.