Former Japanese judge indicted for insider trading

Japan map. – Japanese public prosecutors indict 32-year-old former judge Soichiro Sato without arrest for alleged insider trading on Wednesday, December 25, 2024. Sato was charged with buying shares in around 10 companies for about 9.5 million yen using undisclosed information about tender offers between April and early September while he was working on a loan at the Financial Services Agency. INQUIRER.net stock images

TOKYO, Japan (Jiji Press) — Japanese public prosecutors on Wednesday indicted 32-year-old former judge Soichiro Sato without arrest for alleged insider trading.

Prosecutors also indicted without arrest former Tokyo Stock Exchange employee Keito Hosomichi, 26, and his 58-year-old father, Masato, in another insider trading case.

Sato was charged with buying shares in around 10 companies for about 9.5 million yen using undisclosed information about tender offers between April and early September while he was working on a loan at the Financial Services Agency.

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Hosomichi was accused of feeding his father undisclosed information on tender offers involving three firms between January and April to have his father make a profit. His father allegedly purchased 17 million yen in shares based on the information.

The insider trading brought Sato about 4 million yen in profit and the Masato Hosomichi side over 3 million yen in profit, people familiar with the situation said.