Japan's Securities And Exchange Surveillance Commission: Recommendation For Administrative Monetary Penalty Payment Order For Insider Trading Of Shares Of Tri-Stage inc. By Prospect Asset Management, Inc.

The Securities and Exchange Surveillance Commission, today, made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency that an administrative monetary penalty payment order be issued in regard to insider trading of the shares of Tri-Stage inc. (“Tri-Stage”) by Prospect Asset Management, Inc. (“PAMI”) pursuant to Article 20(1) of the Act for Establishment of the Financial Services Agency. This recommendation is based on the findings of the investigation into insider trading whereby the following violations of laws and ordinances were identified.