IR Japan Raided over Alleged Insider Trading

Society

Tokyo, June 6 (Jiji Press)--Japan’s securities industry watchdog has raided locations related to a former senior official of IR Japan Inc., a consultancy firm that helps companies deal with activist shareholders, over the former official’s alleged involvement in insider trading, it was learned Monday.

The locations searched by the Securities and Exchange Surveillance Commission include IR Japan’s head office in Tokyo and the home of the former executive vice president, 55, informed sources said.

The case involves shares of IR Japan Holdings Ltd. <6035>, the parent of IR Japan, the sources said.

IR Japan Holdings said in a statement that it will fully cooperate with the investigation on the matter.

The SESC has been interviewing the former executive on a voluntary basis, the sources said. The investigation may lead to the filing of a criminal complaint with the Tokyo District Public Prosecutors Office.

[Copyright The Jiji Press, Ltd.]

Jiji Press