The Tokyo District Court on 9 October 2026 ordered GOO PROPERTY SINGAPORE PTE. LTD. and its representative to stop conducting securities business in Japan without registration. The court granted the petition of the Securities and Exchange Surveillance Commission (SESC) as filed, according to the SESC release. The company has no financial instruments business registration.
What the order prohibits
The SESC filed its petition on 19 June 2026. The court's order has two limbs, and both apply to the company and to its representative individually.
The first bars them from handling the offering or private placement of rights listed in Article 2, paragraph 2, items 5 and 6 of the Financial Instruments and Exchange Act (the FIEA) as a business. That is barred unless they hold the Article 29 registration for Type II financial instruments business, or another proper registration under the Act.
The second bars them from running money as a business under contracts in which a client hands over all or part of the investment decisions, plus the authority to invest on the client's behalf. That is barred unless they hold the Article 29 registration for investment management business, or another proper registration under the Act. The SESC says the court found the conduct to be unregistered financial instruments business.
What the products were pitched as
According to the SESC, the company and its representative worked through sub-distributors. They described the investment products of the ITA Group, solicited investment in them and helped interested customers sign contracts.
One product was linked to the S&P 500 index and described as principal-protected. Held to maturity, it was said to pay 100% of contributed principal at 10 years, 140% at 15 years and 160% at 20 years. The second, called Evolution, let customers choose up to 10 external funds and allocation weights. The options included an exchange-traded fund holding spot bitcoin.
The SESC says explanations to customers touted secured returns, but they do not guarantee the products' investment performance. The payout figures are marketing claims, not validated guarantees. The order does not bar index or bitcoin investments as such.
A second court, a second order
The SESC links this case to a separate one in Osaka. It petitioned the Osaka District Court on 31 March 2026 against BANK INNOVATION Co., another sub-distributor company and one executive. On 10 July the court ordered them to stop the same kind of conduct.
What customers are told
The SESC says the order forbids the conduct but does not prohibit refunds of customers' money. It adds that running a financial instruments business in Japan without registration is illegal, and that the company and its representative are not registered financial instruments business operators.