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The Public Prosecutor’s Office continues to sniff around… June 22, 2006

Posted by fukumimi in IT, Japan, law.

Gee, it seems the prosecutor seems to be on a mission.

My well connected source (who predicted back in December that the prosecutors were sniffing around Livedoor and Murakami, and were trying to decide which one to bust first) informs me that the CEO of another leading internet company was voluntarily interviewed by the prosecutor's office recently.

Officials shouldn't be short of targets, many of the younger internet companies who have floated in the last few years are the target of plenty of gossip and rumour, and looking at the press releases, financial statements and other documents relating to various transactions in which these companies have been involved, some things seem contrived and artificial. If you looked back at the attendance list of the extravagant parties that were part of the Bit Valley phenomenon, or even just looked at the younger companies inhabiting Roppongi Hills, you would get a good list of potential suspects.  


1. Chris_B - June 29, 2006

Why is hte prosecutor pulling this populist line about persuing those who profit off the sweat of the working man? I’m curious as to what percentage of the overall market is retail investments by the “sweaty workers”. I’d bet its pretty darn small.

2. fukumimi - June 29, 2006

I saw reported somewhere that the share of value of transactions in the market by us workers was a shade under 40% in 2005, double what it was 5 years ago. The number is pretty high due to the high turnover of many day traders, I would think.

3. Chris_B - June 29, 2006

but the market here is a completely different animal.

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