Tuesday, January 17, 2006

Rewind and reconsider

Let me see if I get this straight.

Public prosecutors--i.e. the state's criminal investigators, not its securities regulators--raided Livedoor in order to secure evidence of the company's shifting of a set of assets from one subsidiary to another and for a subsidiary's overstating of its profits.

In Japan.

The empire of keiretsu, tobashi and dango*.

You have got to be kidding me.

* Was it really only last month that the main general contracting companies caused a huge stir by publicly swearing to give up dango?

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