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(单词翻译:双击或拖选)
By Steve Herman
Tokyo
17 January 2006
Japanese prosecutors1 have raided one of the country's most high-profile Internet companies, prompting the main stock index to suffer its biggest one-day point drop in 20 months. The legal investigation2 has political overtones.
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The benchmark Nikkei index of the Tokyo Stock Exchange plummeted3 462 points on Tuesday, a drop of more than 2.75 percent. Internet-related issues drove the selling, and particularly hard hit were businesses having a relationship with the Internet company Livedoor.
Livedoor's stock, one of the few in Japan that is extremely popular with individual investors4, fell 14.5 percent amid a glut5 of sell orders.
It was not only the company's stock that suffered, however. Livedoor's headquarters and the homes of its founder6 were the target of an all-night raid Monday, which prosecutors said stemmed from allegations of securities law violations7, including spreading rumors8 to manipulate stock prices.
Takafumi Horie (File photo)
The company's founder and chairman, Takafumi Horie, 33, called a 7 a.m. news conference Tuesday, telling a national audience that the company would conduct its own investigation into the allegations raised by prosecutors.
While denying that he or the company has done anything wrong, Horie says Livedoor will look into the charges internally and quickly report its findings to the public.
The incident is being seen as more than a simple criminal matter.
Horie, a brash entrepreneur who likes to break the rules, ran for parliament last year at the urging of Prime Minister Junichiro Koizumi. His opponent was a Koizumi rival and defector from the governing Liberal Democratic Party, former Construction Minister Shizuka Kamei.
Horie lost to Kamei, a member of Japan's political establishment, and talk on the streets of Tokyo Tuesday was that the raids were a message from the country's old guard: don't challenge the establishment, or the way it does business.
Horie usually appears at meetings and news conferences dressed in jeans and a T-shirt. A drop-out of Japan's most elite9 university, his motto is "earning money is everything."
In recent years, he and other mavericks10 have turned their backs on the traditional Japanese business etiquette11 of consensus12 and modesty13. Instead, they have emulated14 aggressive Western entrepreneurs, engaging in mergers15 and acquisitions to make money quickly, and then flaunting16 it by purchasing jets and exotic cars.
Horie, in particular, became a wildly admired celebrity17, especially among young people, for his ultimately unsuccessful effort to buy a professional baseball franchise18 and the failed hostile takeover of a television network.
Kamei said Tuesday that if Horie is found to have broken the law, Mr. Koizumi would have to take the blame for getting the Internet entrepreneur involved in politics.
Mr. Koizumi rebuffed that suggestion, saying the criminal investigation has nothing to do with last year's election.
1 prosecutors | |
检举人( prosecutor的名词复数 ); 告发人; 起诉人; 公诉人 | |
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2 investigation | |
n.调查,调查研究 | |
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3 plummeted | |
v.垂直落下,骤然跌落( plummet的过去式和过去分词 ) | |
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4 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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5 glut | |
n.存货过多,供过于求;v.狼吞虎咽 | |
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6 Founder | |
n.创始者,缔造者 | |
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7 violations | |
违反( violation的名词复数 ); 冒犯; 违反(行为、事例); 强奸 | |
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8 rumors | |
n.传闻( rumor的名词复数 );[古]名誉;咕哝;[古]喧嚷v.传闻( rumor的第三人称单数 );[古]名誉;咕哝;[古]喧嚷 | |
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9 elite | |
n.精英阶层;实力集团;adj.杰出的,卓越的 | |
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10 mavericks | |
未烙印的牲畜( maverick的名词复数 ); 标新立异的人,不合常规的人 | |
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11 etiquette | |
n.礼仪,礼节;规矩 | |
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12 consensus | |
n.(意见等的)一致,一致同意,共识 | |
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13 modesty | |
n.谦逊,虚心,端庄,稳重,羞怯,朴素 | |
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14 emulated | |
v.与…竞争( emulate的过去式和过去分词 );努力赶上;计算机程序等仿真;模仿 | |
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15 mergers | |
n.(两个公司的)合并( merger的名词复数 ) | |
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16 flaunting | |
adj.招摇的,扬扬得意的,夸耀的v.炫耀,夸耀( flaunt的现在分词 );有什么能耐就施展出来 | |
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17 celebrity | |
n.名人,名流;著名,名声,名望 | |
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18 franchise | |
n.特许,特权,专营权,特许权 | |
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