Japan Securities and Exchange Surveillance Commission filed a criminal complaint with the Tokyo District Public Prosecutor’s Office for suspected insider trading in Toyo Securities Co., Ltd. shares under the Financial Instruments and Exchange Act. The Commission alleges that Suspect A, a director and general manager of the investment banking division at Mita Securities Co., Ltd., learned material non-public information in mid-October Reiwa 6 while working with Toyo Securities and Tokyo Stock Exchange Co., Ltd. The information related to a newly calculated forecast for Toyo Securities’ expected year-end dividend for the fiscal year from 1 April Reiwa 6 to 31 March Reiwa 7, which differed from the previous fiscal year’s announced year-end dividend by an amount meeting Cabinet Office Ordinance criteria. Suspects A, B and C allegedly colluded to purchase 996,400 shares before public disclosure, buying via a securities company on the Tokyo Stock Exchange under 14 other names for approximately JPY 496.3 million. The suspected conduct is cited under Financial Instruments and Exchange Act Articles 166 and 197-2 and Article 60 of the Criminal Code, with statutory penalties of up to five years’ imprisonment or a fine of up to JPY 5 million, or both.
Japan Securities and Exchange Surveillance Commission 2026-03-12
Japan Securities and Exchange Surveillance Commission files criminal complaint over alleged insider trading in Toyo Securities shares
The Japan Securities and Exchange Surveillance Commission filed a criminal complaint for suspected insider trading involving Toyo Securities shares. Suspect A, a director at Mita Securities, allegedly used non-public information about Toyo Securities’ dividend forecast to purchase shares worth JPY 496.3 million with Suspects B and C. The conduct is cited under the Financial Instruments and Exchange Act and the Criminal Code, with penalties of up to five years’ imprisonment or a JPY 5 million fine.