The Securities and Exchange Surveillance Commission established that an employee of Toho Zinc Co.,Ltd. engaged in insider trading and recommended to the Commissioner of the Financial Services Agency that an order to pay a surcharge be issued. The subject had previously sold 1,800 shares for total proceeds of ¥1.442 million, and the surcharge is expected to be ¥530,000.
On 23 October 2026, the Securities and Exchange Surveillance Commission investigated insider trading by an employee of Toho Zinc Co.,Ltd. and established that the Financial Instruments and Exchange Act had been violated. It then recommended to the Prime Minister and the Commissioner of the Financial Services Agency that an order to pay a surcharge be issued.
As to the facts of the violation, the subject was aware of material facts relating to the zinc smelting business, whose discontinuation had been decided by the body responsible for deciding the execution of Toho Zinc Co.,Ltd.'s business. Despite there being no applicable exemption under the Financial Instruments and Exchange Act, the subject sold 1,800 shares of Toho Zinc Co.,Ltd. on 27 November 2024, before 18 December of that year, for total sale proceeds of ¥1.442 million.
The surcharge for the above violation was calculated under the Financial Instruments and Exchange Act at ¥530,000, based on the calculation method set out in the attached document.
The Commission stated that it had clarified the facts by reference to information provided by Japan Exchange Regulation.
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