SUMIDA: Company News

Comments on Certain News Reports Concerning a Former Outside Director of the Company

May 11th 2018
Press Release

Today, 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.