This article from the times online, implies Horie was a “freeter” because he dropped out of univeristy.
Perhaps Bill Gates is also a “freeter”. These types of articles are so typical of western media’s views of Japan. They sort of imply that it is bad for Japanese not being working in one Japan’s large auto or electronic makers.
But who else is going to work in the thousands of convenience stores around the country?
Livedoor’s former Chief Financial Officer Ryoji Miyauchi, gave evidence against Horie in court last Friday. He said that Horie gave the go ahead for all illegal share transactions.
Horie denies knowing about what was going on in his company at the time.
“Our target was to earn 2 billion yen in pretax profit (for fiscal 2004) . . . and Horie ordered us to include the proceeds from the transactions (in Livedoor’s financial records) to boost profits,” Miyauchi told the court.
Horie pleaded not guilty to all charges yesterday in court. It was the first time for him to be seen since he was released from remand earlier this year.
He seemed to look relaxed and well as he made his way to court.
Horie is scheduled to appear in court today for the first time. Reporters are eagerly waiting near his Roppongi Hills to catch a glimpse of the former Livedoor President.
Horie’s trial has been set for September with the ruling to be made in around March 2007.
Horie’s lawyers have admitted that some accounting was fraud, but have argued Horie is innocent because he considered the accounting to be above board.
Horie has apologized in court for mis-reporting financial losses.
‘Our management’s attention used to be directed only at our stock price,’ said Kozo Hiramatsu, who was testifying on behalf of Livedoor at a Tokyo District Court hearing
Murakami last night was arrested for insider trading in Nippon Broadcasting Systems shares.
“I don’t think that this country is kind to challengers,” he told a press conference.
Yoshiaki Murakami who runs the fairly high profile Murakami fund may face criminal charges for insider trading.
Murakami allegedly met with Horie when he was president of Livedoor and discussed buying up shares in Nippon Broadcasting System (NBS).
See the full story here.
He recently wrote in a letter to the media:
“I have not admitted to the charges and I also had no intention of ordering or approving illegal activities (at Livedoor).”
“Unlike my past life, time in the detention center went by slowly and it was a good opportunity to look back on my life,” he said.
