The Japan Securities and Exchange Surveillance Commission filed a criminal complaint with the Tokyo District Public Prosecutors Office on suspicion of insider trading under the Financial Instruments and Exchange Act in connection with shares of Makino Milling Co., Ltd. According to the Commission, Suspect A, a director and general manager in the investment banking division of Mita Securities Co., Ltd., allegedly colluded with acquaintances B, C and D after obtaining non-public information linked to negotiations with Nidec Co., Ltd. over a tender offer agent business contract. Before the tender offer was announced, the group allegedly bought a total of 329,100 Makino Milling shares on the Tokyo Stock Exchange between early September and late December, using the names of B and 16 others, for approximately JPY 2,349.8 million; the cited statutory maximum penalty is up to five years’ imprisonment or a fine of up to JPY 5 million, or both.
Japan Securities and Exchange Surveillance Commission 2026-02-27
Japan Securities and Exchange Surveillance Commission files criminal complaint over alleged insider trading in Makino Milling shares ahead of tender offer
The Japan Securities and Exchange Surveillance Commission filed a criminal complaint with the Tokyo District Public Prosecutors Office for suspected insider trading involving Makino Milling Co., Ltd. shares. Suspect A, a director at Mita Securities Co., Ltd., allegedly colluded with others to purchase 329,100 shares using non-public information related to a tender offer with Nidec Co., Ltd., totaling approximately JPY 2,349.8 million. The statutory maximum penalty includes up to five years’ imprisonment or a fine of up to JPY 5 million, or both.