Hong Kong, Dec. 21 -- Hong Kong police have arrested a man from mainland China in connection with a high-value robbery involving Japanese currency, after staff of a money exchange shop were threatened and robbed in the city earlier this week, NHK reported.

Police said the 43-year-old suspect was taken into custody after officers recovered a suitcase containing a large quantity of Japanese yen.

The arrest followed an incident reported on Thursday in the Sheung Wan area.

According to investigators, two employees of a currency exchange shop were transporting four suitcases filled with cash to a nearby bank, where the money was to be converted into Hong Kong dollars.

While en route, the staff was confronted by three men armed with knives....