The Securities and Exchange Surveillance Commission filed a criminal complaint with the Tokyo District Public Prosecutor's Office against Kazumasa Sasahara, who worked in the advertising bureau of the company. The company dismissed him July 25.

Sasahara is suspected of using information he obtained in advance for publication in the newspaper, and bought shares of five listed companies from Dec. 13 to Jan. 31.

The Securities and Exchange Surveillance Commission alleges that Sasahara invested ¥240 million in the five deals, from which he netted about ¥30 million in profit.

Information on legal notices is stored in a shared personal computer in the newspaper's advertisement bureau and managed by them.

Sasahara did not have direct access to the information at work, but is believed to have used an illicitly obtained password to access it.

The Japan Times Weekly: July 29, 2006
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