Tag: Japan

Japan: Prosecutors Arrest Former Chairman of J. Bridge Corp. for Insider Trading

In Japan, prosecutors arrested Hidetaka Noda, the former chairman of investment firm J. Bridge Corp., today for alleged insider trading. The Japan Times reports that in May 2006, Noda allegedly sold 70,000 shares in J. Bridge Corp. while knowing that the publicly-traded company would revise its profit forecast downward.  Noda thus avoided a ¥20 million loss, prosecutors claim, when the…

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Japan: Fund Manager Convicted of Insider Trading, but Prison Sentence Suspended

The Tokyo High Court convicted Yoshiaki Murakami (pictured), a well known Japanese fund manager, of insider trading last week, but overturned a lower court ruling that would have sent him to prison.  Judge Hiroshi Kadono imposed a 3 million yen ($33,400) fine and additional penalties of 1.15 billion yen ($12.82 million) on Murakami, the former head of MAC Asset Management,…

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Japan: FSA Fines Former Goldman Sachs Japan Co. Employee Y230,000 for Insider Trading

Japan’s Financial Services Agency has reportedly accepted the recommendation of the country’s Securities and Exchange Surveillance Commission to fine a former employee of Goldman Sachs Japan Co. Y230,000 for insider trading. On December 12, SESC made the recommendation which relates to a tender offer for REX Holdings Inc. in 2006. The SESC said the employee bought shares of now-delisted REX…

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