Daiei chief repents 'undue procedure' in group stock deals

Daiei chief repents 'undue procedure' in group stock deals

TOKYO, Japan - Tadasu Toba, president of Daiei Inc., bows deeply at a press conference on Oct. 3 at the Tokyo Chamber of Commerce and Industry to express repentance for ''undue procedure'' in trading in shares in a group company last year. Toba donated his 15.9 million yen in profit from the share deals to three organizations, including the Japan Committee for UNICEF, after the adviser pointed out that the purchase might be regarded as a case of insider trading.

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