Ex-TSE Employee, Father Ruled Guilty of Insider Trading
Tokyo, May 9 (Jiji Press)--Tokyo District Court on Friday found a former Tokyo Stock Exchange employee and his father guilty of insider trading.
Judge Takao Okawa sentenced the former TSE employee, Keito Hosomichi, 27, and his father, Masato, 58, each to 18 months in prison, suspended for three years, and a fine of 1 million yen for violating the financial instruments and exchange law. As demanded by prosecutors, Masato was ordered to pay 21.16 million yen in additional penalties.
The father immediately appealed against the ruling.
"The defendants' acts fundamentally shook the fairness and soundness of the stock market and seriously damaged trust from investors," Okawa said.
The judge criticized Keito's act of leaking undisclosed information as "an abuse of his position" as a worker at the TSE division handling corporate information disclosure and "absolutely reprehensible." He concluded that Keito's motive, to improve relations with his father, was thoughtless and unworthy of leniency.
(2025/05/09-16:04)
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