Ex-Don Quijote Boss Held over Share Trade Recommendation
Tokyo, Dec. 3 (Jiji Press)--Tokyo prosecutors Thursday arrested a former president of Don Quijote Holdings Co. for allegedly recommending an acquaintance to buy its shares before a tender offer for the discount store group was announced.
Koji Ohara, 57, former president of Don Quijote Holdings, now Pan Pacific International Holdings Corp. <7532>, was arrested on suspicion of violating the financial instruments and exchange law.
The Tokyo District Public Prosecutors Office's special investigation squad did not disclose whether he admitted to the allegations.
According to the arrest warrant and other sources, Ohara recommended the president of a pachinko pinball parlor company to buy Don Quijote Holdings shares for the president's benefit on multiple occasions in September 2018.
It was before FamilyMart Uny Holdings Co., now FamilyMart Co., announced on Oct. 11 that year a tender offer for Don Quijote Holdings. Ohara was president of the company at that time.
[Copyright The Jiji Press, Ltd.]