SESC Latest Topics No.17«October 2015»

Last Updated : October 29, 2015

Recommendation for Administrative Monetary Penalty Payment Order for Insider Trading of Shares of GameOn Co., Ltd. by Individual Investor Residing Abroad

Recommendation for administrative action against Investment College, Inc.

«Summary»

The SESC recommended that the Prime Minister and the Commissioner of the FSA take administrative action against Investment College, Inc. (“the Company”), an Investment Advisor/Agency.

Based on an inspection of the Company, the SESC identified it engaged in discretionary investment management business without statutory registration.

Recommendation to impose an administrative penalty order against a former officer of Skymark Airlines Inc. for committing insider trading related to shares of Skymark Airlines Inc.

«Summary»

The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 2,380,000 yen against a former officer of Skymark Airlines Inc.

The SESC determined, based on an inspection, that the offender had committed insider trading by purchasing shares of Skymark Airlines Inc. using the insider information.

Recommendation to impose an administrative penalty order against Japan Best Rescue System Co., Ltd. for making false statements in its disclosure documents

«Summary»

The SESC recommended the Prime Minister and the Commissioner of the FSA to impose an administrative penalty order of 165,090,000 yen against Japan Best Rescue System Co., Ltd. ("the company").

Based on an inspection of the company's disclosure statements, the SESC has determined that the company made false statements in its ongoing disclosure documents and offering disclosure documents, which overstated sales amounts by recording earlier or fictitious sales, and which did not record appropriate provision for contract loss as well as appropriate impairment loss on non-current assets, including goodwill, related to the subsidiary.