Company head nabbed for alleged stock manipulation.NAGOYA Nagoya (nä'gō`yä), city (1990 pop. 2,154,793), capital of Aichi prefecture, central Honshu, Japan, on Ise Bay. A major port, transportation hub, and industrial center, it has iron- and steelworks, textile mills, aircraft factories, , April 12 Kyodo (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. : UPDATING WITH LATEST DEVELOPMENT) A company president was arrested Thursday Thursday: see week. on suspicion of manipulating stock prices by buying and selling a large volume of shares in major housing material manufacturer Aica Kogyo Co. from December 1999 to January 2000, prosecutors said. Yoshikazu Murase, 68, president of Marubun fisheries fisheries. From earliest times and in practically all countries, fisheries have been of industrial and commercial importance. In the large N Atlantic fishing grounds off Newfoundland and Labrador, for example, European and North American fishing fleets have long company in Nagoya's Atsuta Ward, is suspected of boosting the stock prices from 606 yen to 679 yen in a bid to profit after trading a large volume of shares in Aica Kogyo through two securities companies, the prosecutors said. Prosecutors at the Nagoya District Public Prosecutors Office and officials at the Securities and Exchange Surveillance Commission searched Murase's home and other relevant locations in connection with the case. Murase allegedly conducted illegal transactions such as amassing some 540,000 shares in Aica Kogyo and forcing other market players to buy some 210,000 shares in the company, the prosecutors said. Aica Kogyo's share price hovered around the 500 yen level in April and May 1999 before rising sharply in mid-June that year, hitting 815 yen June 30. But the share price fell to around 650 yen a month later. Founded in 1936, Aica Kogyo is involved in business fields such as chemicals, laminated laminated /lam·i·nat·ed/ (-nat?ed) having, composed of, or arranged in layers or laminae. laminated made up of laminae or thin layers. sheets, housing fixtures and materials, and electronic components. The company, listed on the first sections of both the Tokyo and Nagoya stock exchanges Nagoya Stock Exchange Established after World War II, one of the three major securities markets in Japan. , posted 69.1 billion yen in sales in the business year ended in March 2000. |
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