Officials of Japan’s Finance Ministry and the...
Officials of Japan’s Finance Ministry and the Tokyo Stock Exchange said they suspect massive insider trading took place on the Tokyo Stock Exchange just before Nippon Steel Co. purchased an 18% stake in Sankyo Seiki Manufacturing Co., a precision machinery maker, driving its stock price sharply higher. It was an unusual admission in Japan, where trading on confidential information has been an acknowledged way of doing business. Until recently, securities laws have ignored all but the most blatant forms of such trading.
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