Feeds

Japan nervous as officials probe Livedoor

Allegations surface of financial jiggery-pokery

Security for virtualized datacentres

Investors in Japan are in a tizz after allegations surfaced about one of the country's most popular internet companies.

On Monday, it emerged that the offices of Livedoor Co - which operates one of Japan's leading portals - had been raided by officials investigating allegations that the company had tried to boost its share price by spreading false information.

But fresh reports from Japan today suggest that the authorities have opened a second probe - this time into allegations that the internet company covered up losses of one billion yen (£5m). Japanese news site Kyodo reports that the firm is suspected of cooking the books by transferring profits from affiliate companies to the main company.

Now officials are wading through thousands of emails to try and figure out if there is any truth in the allegations. But it gets worse. News about Livedoor set off a flurry of panic selling. In turn, this overloaded the computer systems at the Tokyo Stock Exchange (TSE) forcing it to suspend trading early for the first time in more than fifty years.

Japan's prime minister tried to calm investor nerves by insisting that Japan's economy was stable.

Kyodo quotes Prime Minister Junichiro Koizumi as saying that the events triggered by Livedoor are only "of a temporary nature as economic conditions are solid overall". ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.