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SESC Latest Topics No.75＜August 2021＞

Last Updated : August 31, 2021

What’s New on the SESC Website

This page contains the latest in events, developments, and updates to the SESC website.

Press Releases

(Following press release is available in Japanese)

Market Misconduct

June 18, 2021:	Recommendation for administrative monetary penalty payment order against an offender who committed market manipulation related to shares of IZUMI CO., LTD. and six other securities. <Summary> The SESC recommended that the Prime Minister and the Commissioner of the FSA issue an administrative monetary penalty payment order of 6,980,000 yen against an offender who committed market manipulation in violation of the Financial Instruments and Exchange Act. Based on an inspection, the SESC determined that the offender had committed market manipulation for the purpose of inducing the sale and purchase of securities through sale entrustments by placing a large amount of sale orders of shares of IZUMI CO., LTD. and six other securities (hereinafter, “the Companies”) at the highest sale orders and purchase entrustments by placing a large amount of purchase orders of shares of the Companies at the highest purchase orders. Through these techniques, the offender intended to mislead other persons into believing that the sale and purchase of the securities were thriving, and to cause fluctuations in market prices in his/her favor.

June 18, 2021:

Recommendation for administrative monetary penalty payment order against an offender who committed market manipulation related to shares of IZUMI CO., LTD. and six other securities.

The SESC recommended that the Prime Minister and the Commissioner of the FSA issue an administrative monetary penalty payment order of 6,980,000 yen against an offender who committed market manipulation in violation of the Financial Instruments and Exchange Act.

Based on an inspection, the SESC determined that the offender had committed market manipulation for the purpose of inducing the sale and purchase of securities through sale entrustments by placing a large amount of sale orders of shares of IZUMI CO., LTD. and six other securities (hereinafter, “the Companies”) at the highest sale orders and purchase entrustments by placing a large amount of purchase orders of shares of the Companies at the highest purchase orders.

Through these techniques, the offender intended to mislead other persons into believing that the sale and purchase of the securities were thriving, and to cause fluctuations in market prices in his/her favor.

False Disclosure Statement

June 11, 2021:	Recommendation for administrative monetary penalty payment order against Net One Systems Co., Ltd. for making false statements in its disclosure documents. <Summary> The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 81,109,997 yen against Net One Systems Co., Ltd. (hereinafter, “the Company”). Through an inspection of the Company’s disclosure statements, the SESC confirmed that the Company disclosed false statements that included an excessive amount of net income due to improper accounting practices.
June 18, 2021:	Recommendation for administrative monetary penalty payment order against DAIICHI COMMODITIES CO., LTD. for making false statements in its disclosure documents . <Summary> The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 6,000,000 yen against DAIICHI COMMODITIES CO., LTD. (hereinafter, “the Company”). Through an inspection of the Company’s disclosure statements, the SESC confirmed that the Company disclosed a false statement that included an excessive amount of net assets due to improper accounting practices.

June 11, 2021:

Recommendation for administrative monetary penalty payment order against Net One Systems Co., Ltd. for making false statements in its disclosure documents.

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 81,109,997 yen against Net One Systems Co., Ltd. (hereinafter, “the Company”). Through an inspection of the Company’s disclosure statements, the SESC confirmed that the Company disclosed false statements that included an excessive amount of net income due to improper accounting practices.

June 18, 2021:

Recommendation for administrative monetary penalty payment order against DAIICHI COMMODITIES CO., LTD. for making false statements in its disclosure documents .

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 6,000,000 yen against DAIICHI COMMODITIES CO., LTD. (hereinafter, “the Company”). Through an inspection of the Company’s disclosure statements, the SESC confirmed that the Company disclosed a false statement that included an excessive amount of net assets due to improper accounting practices.

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