Former head of wholesaler indicted

Kyodo

Prosecutors on Monday indicted a former president of Inaba Denkisangyo Co. on suspicion of insider trading.

Takeshi Deguchi, 69, allegedly made transactions in the shares of Digital Electronics Corp. after obtaining undisclosed information around Sept. 2, 2002, about an imminent takeover bid for the company by Schneider Electric Japan Ltd., a Tokyo-based subsidiary of France’s Schneider Electric S.A.