Ex-Mita Securities Exec, 4 Others Held for Alleged Insider Trading

Tokyo, Feb. 2 (Jiji Press)–The Tokyo District Public Prosecutors Office’s special investigation squad has arrested a former Mita Securities Co. executive and four other individuals on suspicion of insider trading linked to a tender offer. The special squad has not disclosed whether the five, including Tsukasa Nakamoto, 52, former board director and investment banking headquarters chief at the Tokyo-based brokerage house, admitted the allegations against them. They were arrested on suspicion of violating the financial instruments and exchange law. Around Aug. 28, 2024, Nakamoto allegedly obtained undisclosed information about major motor maker Nidec Corp.’s plan to launch a tender offer for machine tool maker Makino Milling Machine Co., in line with Mita Securities’ conclusion of an agency agreement related to the tender offer with Nidec. Between September and December 2024, before the announcement of the tender offer plan, Nakamoto allegedly conspired with Hironori Matsuki, 44, and Masayuki Kobayashi, 39, both corporate executives, to purchase 329,100 Makino Milling Machine shares for some 2,349.8 million yen. Makino Milling Machine is listed on the Tokyo Stock Exchange’s top-tier Prime section. In December 2024, Nidec announced plans to launch a tender offer in April 2025 for Makino Milling Machine shares at 11,000 yen apiece, without prior consultations with the machine tool maker. Nidec withdrew the tender offer in May 2025, however, after Makino Milling Machine adopted takeover defense measures. Matsuki and Kobayashi are also suspected of operating financial business without registration. END [Copyright The Jiji Press, Ltd.]