Friday, January 20, 2006

Tokyo Prosecutors Hit the World Money Market

Tokyo Prosecutors Hit the World Money Market

Before they started the compulsory investigation into Livedoor Group, they said, they had thought that it might give some influence on Tokyo Stock Exchange Market. It actually hit the world money market.

Livedoor group is a kind of money-game companies under disguise of IT enterprise.

Tokyo district persecutors assailed offices of Livedoor Group in the night of January 16, including its computer center where their e-mail servers were located.

But why on January 16? Yes, there must be reasons. On the next day, an important witness was invited to Japanese Congress (Diet) on the issue of false aseismatic structure designed into condominium buildings and hotels. And there is a strong doubt on involvement of some famous members of ruling parties in hiding truth of the crime, which should give impact on Mr. Koizumi’s Cabinet.

To avoid inviting too much social attention to this Diet hearing, those near Prime Minister Junichiro Koizumi might have made an allusion to persecutors on their wish that something big should happen on the day.

However, truth should be more interesting than fantasy.

Livedoor group is headed by a young business man who often publicly states that his dream is to make Livedoor number one in the world in terms of aggregate market value of listed stock.

President of Livedoor Mr. Takahumi Horie once said that his company would surpass Mr. Bill Gates’ Microsoft soon or later.

Although Livedoor’s total stock value was about more that 6 billion dollars before this crash which took 40 percent of the amount off his company so far, when you hear such a statement being delivered in a serious tone, you had better wonder what this young man knows and understands about Microsoft.

Tokyo district prosecutors also seem to wonder what this superstar in IT and money industry might know and understand about Japanese Securities Act.