September 5, 2006 |
Once an icon for a new generation of Japanese go-go capitalists, fallen Internet mogul Takafumi Horie on Monday declared himself not guilty of accusations that he masterminded a scheme to falsify corporate earnings and inflate stock prices. Speaking on the opening day of his trial, the brash entrepreneur called the case against him "full of malicious intent from the beginning" and said, "I have not carried out or instructed such crimes as were mentioned.
September 4, 2006 |
Takafumi Horie, the former CEO of the Internet firm Livedoor Co. who came to symbolize a freewheeling capitalism that challenged Japan's corporate norms, pleaded not guilty today to charges of breaking securities laws. A January raid on Livedoor sent Tokyo share prices tumbling, halting trade and rattling confidence in the world's second-largest exchange. The case embarrassed Prime Minister Junichiro Koizumi, who had supported Horie's unsuccessful run for parliament.
June 5, 2006 |
Japan's best-known shareholder activist, fund manager Yoshiaki Murakami, said today that he expected to be charged with insider trading and would resign immediately from his fund. Murakami said that after discussions with prosecutors he had decided that his actions in connection with a high-profile takeover battle last year initiated by Livedoor Co., a scandal-hit Internet firm, could be interpreted as having violated securities trading laws.
March 31, 2006 |
The entire leadership of Japan's biggest opposition party will step down after a party member falsely accused the son of a ruling party leader of financial links with disgraced Internet company Livedoor, news reports said today. Seiji Maehara, head of the Democratic Party of Japan, and his secretary general, Yukio Hatoyama, told colleagues that they would resign, Kyodo News agency and national broadcaster NHK reported.
January 19, 2006 |
The apparent suicide of a 38-year-old Japanese venture capitalist has added a sinister aura to the investigation into the dealings of Takafumi Horie, the brash Internet entrepreneur at the center of a drama that has roiled stock markets. The body of Hideaki Naguchi, a former executive with Horie's multibillion-dollar Livedoor Co. online media services empire, was discovered Wednesday night in a business hotel in Naha, Okinawa, 1,000 miles south of Tokyo.