Society

Ex-head of Don Quijote chain arrested over alleged insider trading

Dec 04 (Japan Times) - A former president of discount retailer Don Quijote Holdings Co., now known as Pan Pacific International Holdings Corp., was arrested Thursday by prosecutors for alleged involvement in insider trading in 2018.

Tokyo prosecutors suspect Koji Ohara, 57, illegally advised a male acquaintance to purchase Don Quijote shares prior to the announcement of a takeover bid for the company by FamilyMart Uny Holdings Co. in violation of the Financial Instruments and Exchange law.

Ohara previously denied the charges during voluntary questioning prior to his arrest, according to sources familiar with the matter. The prosecutors have not disclosed whether Ohara has admitted or denied the allegation.

Don Quijote shares jumped from the Â¥5,000 level to the upper Â¥6,000 level after FamilyMart Uny Holdings, now FamilyMart Co., announced on Oct. 11, 2018, that it would make Don Quijote an affiliate.

Popular with young people and foreign tourists, a typical Don Quijote store, nicknamed "Donki," operates around the clock and features floor-to-ceiling shelves with a huge variety of products, from electrical appliances and food to cosmetics and clothing.

Takaichi Elected as Japan’s First Female Prime Minister

Japan’s Diet elected ultraconservative Sanae Takaichi as the country’s 104th prime minister on October 21st, making her the first woman to lead Japan and signaling a sharp shift to the right following a turbulent political season marked by party upheavals, coalition realignments, and public frustration over economic stagnation.

Typhoon No. 24 (Fung-shen) Strengthens Over South China Sea, Heavy Rain Forecast For Japan

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Tourist Graffiti Threatens Kyoto’s Iconic Bamboo Forest

Kyoto’s world-famous Arashiyama district, a popular destination for both domestic and international tourists, is facing a growing problem of graffiti etched into the bamboo along its iconic “Bamboo Grove Path,” with more than 350 stalks now damaged — a practice that experts warn could eventually cause bamboo to weaken, fall, and even injure visitors.

Japanese Streaming Services Struggle Against Netflix

Japan’s streaming industry is under growing pressure as foreign giants tighten their grip on the domestic market, with Netflix’s latest move to secure exclusive broadcast rights in Japan for every game of the World Baseball Classic next March highlighting the widening gap.

Japan Tightens Rules on Foreign Business Visas

Investigators from the Immigration Services Agency conducted on-site inspections in Osaka on October 14th amid a surge in so-called 'paper companies' created by foreign nationals seeking residency.

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