• Kyodo

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A former president of discount retailer Don Quijote Holdings Co., now known as Pan Pacific International Holdings Corp., was arrested Thursday by prosecutors for alleged involvement in insider trading in 2018.

Tokyo prosecutors suspect Koji Ohara, 57, illegally advised a male acquaintance to purchase Don Quijote shares prior to the announcement of a takeover bid for the company by FamilyMart Uny Holdings Co. in violation of the Financial Instruments and Exchange law.

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