Authorities Probe Insider Trading at Wal-Mart's Japan Unit: Report


Authorities in Japan will investigate allegations of insider trading involving Seiyu, the Japanese unit of Wal-Mart Stores (WMT).

The country's Securities and Exchange Surveillance Commission and Tokyo district prosecutors will pursue an insider trading case against the husband of a former member of the Seiyu board, Dow Jones said, citing a report in the Japanese media.

The husband allegedly used information from his spouse to make at least 7 million yen ($83, 775) through stock transactions.

Wal-Mart bought out the minority stake in Seiyu in 2007. The U.S. company already had majority control.

Originally published