Man, I would hate to be the guy who did this.
The trouble began Thursday morning, when a trader at Mizuho Securities tried to sell 610,000 shares at 1 yen (less than a penny) apiece of a job recruiting firm called J-Com Co. , which was having its public debut on the exchange.
It had actually intended to sell 1 share at 610,000 yen ($5,041).
Worse still, the number of shares in Mizuho's order was 41 times the number of J-Com's outstanding shares, but the Tokyo Stock Exchange processed the order anyway.
The bank that owns the trading arm of the company says it will back the trade. The $225 million loss could wipe out its entire earnings of $233 million for the 1st quarter of the year.