News On Japan
Society

SMBC Nikko employees pumped Koito, Mos Food stocks, sources say

Mar 06 (Nikkei) - Among the stocks whose prices were allegedly manipulated by four SMBC Nikko Securities employees were Koito Manufacturing and Mos Food Services, Nikkei has learned.

The trading volume of those stocks allegedly surged due to illicit orders, which were allegedly used to avoid large price declines. Other targeted stocks were As One, Fibergate and Keiyo Bank, according to the sources familiar to the matter.

Koito produces lighting equipment for automobiles, aircraft and ships. Mos Food operates a much-loved hamburger chain in Japan. As One is a trading house specializing in the research, industry and medical fields. And Fibergate is an information technology consultancy.

Tokyo prosecutors on Friday arrested the four employees, including two executive officers, on allegations of market manipulation. They were: Trevor Hill, SMBC Nikko's head of equity; Alexandre Avakiants, deputy head of equity; Makoto Yamada, general manager of equity trading; and Shinichiro Okazaki, general manager of structured products.

Prosecutors accuse the suspects of making trades with the intention of manipulating the prices of five stocks, but it had not been known which stocks were targeted. ...continue reading

News On Japan
POPULAR NEWS

JAL Speeds Up Boarding Process

Japan Airlines (JAL) has introduced a new boarding method on September 11, aimed at shortening the boarding time for large aircraft on domestic flights.

Nara Palaces Nominated for UNESCO World Heritage

Nara's Asuka and Fujiwara Palaces have been officially recommended as a candidate for UNESCO's World Cultural Heritage list, with the goal of achieving registration at the World Heritage Committee meeting scheduled for the year after next.

University of Tokyo to Increase Tuition by 20%

University of Tokyo President Teruo Fujii revealed that the university is finalizing plans to raise undergraduate tuition fees by 20%, starting with students entering next academic year.

Two Men Use Fake Gold to Steal Millions

Two Liberian men have been arrested on suspicion of stealing 34 million yen through a trick using copper particles plated with gold.

Former Bigmotor Kawasaki Manager Fined 200,000 Yen for Cutting Azaleas

The Yokohama District Court on Monday sentenced a former manager of Bigmotor's Kawasaki branch to a fine of 200,000 yen for damaging public property by cutting azaleas in front of the store.

MEDIA CHANNELS
         
MORE Society NEWS

Imperial Instagram Account to Expand Family Coverage

The Imperial Household Agency's official Instagram account, which launched in April and has 1.79 million followers, mainly features updates about the Emperor and Empress. The agency is now considering expanding its posts to include updates on the Akishino family and other members of the imperial family, according to the Director-General during a press conference.

'Voyeur King' Busted Distributing Underwear Images

A man calling himself the ‘Voyeur King’ has been arrested for taking pictures of women's underwear and posting the images on social media.

Ancient harvest ritual on Japanese island draws big crowd

On the southwestern Japanese island of Amami-Oshima, people have offered prayers for a bumper crop in a traditional ritual dating back more than 450 years. (NHK)

Golf Club Theft Ring Busted

Five unemployed men have been arrested and charged with repeatedly stealing golf clubs from parked cars. The total losses are estimated at approximately 57 million yen.

Kyoto's Kamigamo Shrine Holds Traditional 'Crow Sumo' Ritual

The traditional 'Crow Sumo' ritual, which involves imitating crow calls to pray for good health, was held on September 9 at Kyoto's Kamigamo Shrine. This ritual, which takes place on the Day of Chrysanthemums, has been performed since the Heian Period

Separate Surnames for Married Couples: Why Japan Still Says No

The ongoing debate over the legalization of separate surnames for married couples in Japan is a topic that has polarized both politicians and the public for over three decades.

Two Men Use Fake Gold to Steal Millions

Two Liberian men have been arrested on suspicion of stealing 34 million yen through a trick using copper particles plated with gold.

Lightning Strike Injures 9 at Tochigi Live Event

A lightning strike at a live event venue in Moka City, Tochigi Prefecture, injured nine people, but none are in life-threatening condition.