TOKYO (TR) – Prosecutors here have indicted a former employee of major rental conference room operator TKP and her husband without arrest for allegedly orchestrating a massive insider trading scheme, reports Nippon News Network (June 30).
Arisa Hosoda, 36, and her 44-year-old husband, Masato, were formally charged on Tuesday by the Tokyo District Public Prosecutors Office’s Special Investigation Squad for violating the Financial Instruments and Exchange Act.
According to prosecutors, the couple engaged in illegal stock purchases between May and August 2024. Armed with unreleased, highly sensitive information that TKP was planning to acquire shares in other companies, the couple spent over 147 million yen to scoop up approximately 367,000 shares across two different stocks.
The illicit trades were allegedly executed using a brokerage account in Masato’s name.
Investigators say Arisa gained access to the confidential buyout plans through her position in TKP’s general affairs department. Sources close to the investigation revealed that the couple later sold off the shares, walking away with a substantial illicit profit.
Authorities have declined to disclose whether the couple has admitted to the charges.
“We will fully cooperate with the investigation by the relevant authorities,” TKP said in an announcement posted on its website on Monday. “Although the former employee has already left our company, we deeply regret that such a situation has occurred and sincerely apologize for the great inconvenience and concern caused to all parties involved. We take this matter very seriously and will re-examine our compliance training, internal regulations, and information management system, and strive to further strengthen and thoroughly implement measures to prevent recurrence and improve their effectiveness.”
