The share of Nichiryo Baking had been bought before collaboration was announced.

Financial Services Agency risked and ordered the surcharge paying tax of 250,000 yen to the director of the customer enterprise of Yamazaki Baking who has made the insider trading on the 25th. Yamazaki Baking obtains the capital and the material fact of forming a business tie-up from the acquaintance with Nichiryo Baking. The share of Nichiryo Baking had been bought before collaboration was announced.

http://www.nikkei.com/news/category/article/g=96958A9C93819591E0E7E2E39B8DE0E7E2E4E0E2E3E29797E3E2E2E2

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