Former internal audit office manager of a system development company listed on the first section of the former Tokyo Stock Exchange violated the Financial Instruments and Exchange Act, alleging that they were conducting insider trading based on inside information before the announcement of the company's TOB = tender offer. Was charged at home by the Tokyo District Prosecutor's Office.
Defendants Kazuhiro Miyazawa (56), a former director of the internal audit office of the system development company Softbrain, and Gohei Yamaguchi (85), an acquaintance and tax accountant, were indicted at home.
According to the Tokyo District Inspection Special Investigation Department, former director Miyazawa said that "Soft Brain" will become a subsidiary of an investment company in Tokyo through a takeover bid, and based on inside information before the announcement, about 4.8 million yen worth of shares will be offered. He has been accused of violating the Financial Instruments and Exchange Act for conducting insider trading to buy.
Tax accountant Yamaguchi is accused of illegally buying shares of this company for more than 10 million yen based on the information given by former director Miyazawa.
In addition, Takahide Nishino, a 55-year-old corporate officer who had been arrested in this case last month, was also charged.
The stock price of this company was quiet and remained around 400 yen before the TOB was announced, but it has almost doubled in the five days after the announcement.
The Special Investigation Department has not disclosed the approval or disapproval of former director Miyazawa and others.