(Bloomberg) -- Japan’s Ministry of Finance is temporarily excluding Nomura Holdings Inc. from primary dealer privileges at government debt auctions after the firm admitted to manipulating the bond futures market.

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Nomura will be suspended from “special entitlements” of Japanese government bond dealers from Oct. 15 to Nov. 14, the ministry said in a statement on its website on Friday.

The action, reported earlier by Bloomberg, is another setback to Nomura after the revelations led several companies including Toyota Finance Corp. to take their bond underwriting business elsewhere. As one of the biggest players in government bond auctions, Nomura’s suspension will increase the burden on other bidders, analysts said.

“The weight of other brokerages will increase,” said Takashi Fujiwara, chief fund manager at Resona Asset Management Co.’s fixed-income investment division in Tokyo. “There is a particular concern that there is an oversupply of super-long-term bonds, and that liquidity may decline.”

The suspension includes participation in certain debt sales including non-price competitive auctions. Still, a Finance Ministry official said at a briefing in Tokyo that it is unlikely to have a significant impact on the market.

Nomura ranked fourth among primary dealers by successful bids weighted by duration in the six months through September. So-called special participants at bond auctions are given access to ministry officials in return for an obligation to bid for and purchase a certain amount of bonds. The group had 19 members as of December, according to the ministry’s website.

The temporary loss of such engagement with the ministry would deprive Nomura of insights that can help it adjust risks on its balance sheet and find trading opportunities, said Michael Makdad, a senior analyst at Morningstar Inc.

The ministry is urging Nomura to review its internal management systems and report on how it plans to prevent a recurrence, the official said.

“We take this matter very seriously and apologize to our clients and all other concerned parties for the trouble this has caused,” Nomura said in a statement. It will announce if there is any possibility of a material impact on its financial results. The company is scheduled to report earnings for the three months ended September on Nov. 1.