SUMIDA News: May 2018
Comment on Press Reports Concerning the Arrest of a Former External Director
May 29th 2018 Press ReleaseToday, it has come to light through press reports that a former external director has been arrested for the alleged insider trading of Sumida shares, violating the Financial Instrument and Exchange Act.
SUMIDA CORPORATION will continue to offer its full support to the efforts of the investigations.
Comments on Certain News Reports Concerning a Former Outside Director of the Company
May 11th 2018 Press ReleaseToday, certain news agencies reported that the Securities and Exchange Surveillance Commission (hereafter “SESC”) is investigating allegations of violation of the Financial Instruments and Exchange Law (Insider Trading) by a former outside director of SUMIDA CORPORATION (hereafter the “Company”).
We highly regret the inconvenience caused through the media report, especially to our shareholders, customers and suppliers.
As mentioned in certain media reports, it is fact that the Company is under investigation by the SESC and that the Company is fully cooperating to clarify the case.
The concerned matter is related to an individual action by a former outside director, however, with respect to the selection of outside director candidates, the Company will strengthen efforts for prevention of recurrence and recovering of trust.