Press Conference by Taro Aso, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services


(Friday, September 2, 2016, 10:06 am to 10:20 am)

[Questions and answers:]


Yesterday, the Tokyo District Court countermanded an administrative monetary penalty payment order issued by the Financial Services Agency in a case of insider trading involving Tokyo Electric Power’s public stock offering, and this would seem to call into question the Financial Services Agency’s factual findings. In particular, the FSA found that insider information had been leaked from a securities company, while the court’s ruling does not deem this to have been insider information. Because there may well have been an employee guilty of misconduct, this was used as a reason for taking administrative action against Nomura Securities. Do you think that this action toward Nomura was appropriate at the time?


I think it regrettable that the government’s decision was overturned, but in any event we are talking about a judgment of the first instance. We will be discussing this matter with a variety of relevant officials to determine what we should do next, so it would be difficult to comment at the present stage.

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