The Tokyo District Court held the first hearing for former employee Arisa (有紗) and her husband Masato (正斗), who were charged with insider trading based on undisclosed information from major meeting-room operator TKP. Both defendants admitted the charges. Prosecutors sought a sentence of 2 years and 6 months' imprisonment and other penalties, and a verdict is expected on 30 October.
The first hearing was held at the Tokyo District Court, where a former TKP employee and her husband admitted the charges of insider trading in violation of the Financial Instruments and Exchange Act. Prosecutors sought 2 years and 6 months' imprisonment, a fine of ¥2.5 million and a surcharge of ¥195.8 million, and the trial concluded the same day. The verdict is expected on 30 October.
According to the indictment, defendant Arisa (有紗) conveyed to defendant Masato (正斗) information about the accumulation of shares in a major bridal company, which she learned through her work in the General Affairs Department, as well as information related to a TOB. Masato allegedly conducted illegal trades in approximately 367,100 shares of the two companies combined, worth a total of approximately ¥147.5 million, and made approximately ¥48.2 million in gains from their sale.
The prosecution pointed to the habitual nature of the illegal trading and the facile motive, arguing that the profits were used to purchase brand-name goods and other items. The defense sought a suspended sentence, and the trial concluded the same day. Attention is now focused on the verdict.