Taisei Corp employees penalized for insider trading

Taisei Corporation (TSE:1801) announced that the Securities and Exchange Surveillance Commission of Japan has recommended an administrative monetary penalty for four of its employees due to violations of the Financial Instruments and Exchange Act related to insider trading. The violations occurred before the company's announcement regarding "failure to satisfy steel erection accuracy requirements in the ongoing construction work" on March 16, 2023. Taisei Corporation expressed regret over the matter, emphasizing that it had implemented insider trading prevention measures and provided employee education. The company pledges to take strict measures towards the involved employees and prevent future occurrences through continued training and guidance.