December 20th, 2013 (Tokyo, Japan) - The Securities and Exchange Surveillance Commission of Japan today announced that it made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency to issue a surcharge payment order against a former employee of Wacom Co., Ltd. (the Company) on the grounds that it had been found that there were violations of insider trading prohibition rule under the Financial Instruments and Exchange Law.
We deeply apologize for causing trouble and concern to our shareholders, investors and other stakeholders of ours.
1. Contents of the recommendation
According to the recommendation, the former employee of the Company obtained the undisclosed information of Company’s revisions of business forecast and dividend forecast for FY12, and purchased 35 shares before its disclosure.
Also, according to the recommendation, this purchase by the former employee is in violation of the provisions of Article 166(1) or (3), as stipulated under Article 175(1) of the Financial Instruments and Exchange Act. The amount of the administrative monetary penalty applicable to the above violation is 2,030,000 yen.
2. Our countermeasures
We have always been engaged in the strict implementation of systems to prevent unlawful insider trading, by instituting internal company rules relating to insider trading and designating a trading period for the sale or purchase of shares in us by our directors, officers and employees, and at the same time have made efforts to make these systems known to all directors, officers and employees by conducting internal company training. Given these efforts, it is highly regrettable that a former employee has been the subject of this recommendation, and we will give this incident strictest attention, working together as a whole to make increased efforts in the strengthening of and thorough compliance with countermeasures for the prevention of insider trading by our directors, officers and employees.
We ask for the continued understanding of all of our shareholders, investors, and other stakeholders of ours.
Public Relations, Wacom Co., Ltd