The Securities and Exchange Surveillance Commission claims that a former officer of JA Zenno has conducted insider trading based on inside information before the announcement in connection with the TOB = Tender Offer conducted by Itochu Corporation, a major trading company. Advised the Financial Services Agency to order a surcharge of over 1.6 million yen.
The target of the recommendation was a man in his 70s who lived in Nara prefecture, who was a former officer of JA Zen-Noh = National Federation of Agricultural Cooperatives and was a member of the management committee.
According to the Securities Transactions Oversight Committee, the former officer was supposed to be in his current position, and before the announcement of the TOB = Tender Offer plan for FamilyMart, a major convenience store implemented by ITOCHU, about 3.5 million yen worth of FamilyMart shares. It means that he made a profit of more than 1.2 million yen by buying and selling after the announcement.
In this TOB, ITOCHU plans to transfer about 5% of the acquired shares to JA Zen-Noh and others in order to deepen cooperation in the food field, and former officers were in a position to grasp this plan before the announcement. That is.
The Oversight Committee has advised the Financial Services Agency to order a former officer to pay a surcharge of more than 1.6 million yen for insider trading prohibited by the Financial Instruments and Exchange Act.
The oversight committee has not disclosed the approval or disapproval.
JA Zen-Noh commented, "We sincerely apologize for the inconvenience caused to all concerned. We will reinforce the awareness of compliance among officers and employees and prevent recurrence."