Furniture retailer Otsuka Kagu fined for insider trading

TOKYO — The Financial Services Agency said Tuesday it ordered furniture retailer Otsuka Kagu Ltd the same day to pay a fine of 30.44 million yen for insider trading connected to purchases of its own shares.
The Securities and Exchange Surveillance Commission said Otsuka Kagu bought back 79,000 shares from the market between the period when it made a decision to raise dividend estimates and the announcement of the decision in February 2016.


The share purchase was made before the announcement of important information that could have influenced share prices and constituted illegal insider trading, the SESC said when it recommended that the FSA fine Otsuka Kagu early this month.
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