JP Morgan (JPM) issued a note during the afternoon session in Tokyo amidst the selling, speculating that even in the case of a dismissal of Chen that there shouldn't be any problems replacing her internally and that the damage should be limited.
Trend Micro's ordinary shares closed at 3,780 yen ($32.82). Its ADRs closed yesterday at $33.70. Trading volume is generally light on its ADRs but based on what Trend itself is saying and what JPM said, Trend could make for a profitable short-term trade if it is oversold.
Trend Micro (TMIC) 1-year chart: