The Tokyo District Court sentenced defendant Matsuki Yusen (松木悠宣), who committed insider trading involving Nidec's tender-offer information and a planned dividend increase, market manipulation through unregistered investment management, and stock trading in multiple issues, to 4 years and 6 months in prison, a ¥10 million fine and an additional monetary penalty of approximately ¥758 million.
Defendant Matsuki Yusen (松木悠宣), who stood trial at the Tokyo District Court, was found guilty of violating the Financial Instruments and Exchange Act and sentenced to 4 years and 6 months in prison, a ¥10 million fine and an additional monetary penalty of approximately ¥758 million. The charges included insider trading, operating without registration and market manipulation. There was no dispute over the charges. The presiding judge determined that an actual prison sentence without a suspended sentence was warranted.
Matsuki (松木) entered into discretionary investment management agreements with 12 clients without registration and executed securities trades on their behalf using client funds. From January to March 2023, he allegedly placed a large number of buy and sell orders with the aim of illegally driving up the prices of 5 stocks. He was also found to have used nonpublic information when purchasing shares of Makino Milling Machine, with total purchases exceeding approximately ¥2.8 billion. The case also examined his trading activity before the tender-offer information was made public.
Matsuki (松木) allegedly conspired with associates to use nonpublic information, including information about Nidec's tender offer, to purchase approximately 329,100 shares of Makino Milling Machine for approximately ¥2.3498 billion, and shares of Toyo Securities for approximately ¥496.3 million based on a nonpublic plan to increase its dividend. He managed investments using client funds. The presiding judge deemed it especially culpable that he habitually disregarded market regulations for personal gain.