Shareholders seek 350 mil. yen damages from Seibu, Kokudo

TOKYO, Japan - Plaintiffs suing scandal-tainted Seibu Railway Co, its parent Kokudo Corp., and former top executives enter the Tokyo District Court building Feb. 1. A total of 211 individuals and two companies holding shares in Seibu Railway jointly sought more than 350 million yen in damages. The plaintiffs had purchased Seibu Railway shares before the company revealed its long-time practice of falsifying its financial statements.

Sample
PDF Preview

Product Code
ILEA001107365

Registered date
2005/2/01 00:00:00

Credit
Kyodo / Kyodo News Images

Media source
2005 Kyodo News

Media size
1864 × 1228 pixel

Resolution
dpi

Deployment size
448.11(KB)*

Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

Nikko Cordial to seek 3.1 bil. yen damages from 3 former execs

TOKYO, Japan - Nikko Cordial Corp. President Shoji Kuwashima (C) bow in apology at a news conference in Tokyo on Feb. 27 after the brokerage submitted a corrected version of its financial statements to the Finance Ministry following an accounting fraud late last year. The company said it will file a lawsuit against three former top group executives to seek a total of 3.1 billion yen ($25.94 million) in damages for their alleged involvement in the fraud.

Seibu Railway shareholders OK plan to reorganize group operation

TOKOROZAWA, Japan - President Takashi Goto (C) and other management members of Seibu Railway Co. bow to shareholders at the beginning of an extraordinary shareholders general meeting in Tokorozawa, Saitama Prefecture, on Dec. 21. The meeting endorsed a plan to reorganize the company's group operations under a holding firm, a move that will end control of the railway and resort conglomerate by Kokudo Corp. and business tycoon Yoshiaki Tsutsumi, who has received a suspended prison term for insider trading and falsifying statements. (Kyodo)

2 Tsutsumi brothers to launch bid for Seibu Railway

TOKYO, Japan - Seiji Tsutsumi (L) and Yuji Tsutsumi, the two members of the Seibu group founding family will offer to buy Seibu Railway Co. in a bid to thwart efforts by Takashi Goto, the current president of the railway firm, to move the group toward a holding company structure, sources close to the matter said on Oct. 31. Goto is working with Yoshiaki Tsutsumi, former chairman of Kokudo Corp., to restructure the Seibu group.

(2)Tsutsumi admits role in false stock reports, insider trading

TOKYO, Japan - Yoshiaki Tsutsumi, former chairman of Kokudo Corp. and Seibu Railway Co., returns to his home in the town of Ninomiya, Kanagawa Prefecture, on June 16 after the first hearing of his trial at the Tokyo District Court. (Kyodo)

Tsutsumi admits role in false stock reports, insider trading

TOKYO, Japan - Yoshiaki Tsutsumi, former chairman of Kokudo Corp. and Seibu Railway Co., enters the Tokyo District Court on June 16. He admitted his involvement in falsifying financial statements on shareholdings of Seibu Railway and insider trading in the first hearing of his trial. (Kyodo)

(2)Business tycoon Tsutsumi arrested in Seibu share scam

TOKOROZAWA, Japan - Prosecutors enter the headquarters of Kokudo Corp. in Tokorozawa, Saitama Prefecture near Tokyo on March 3. The company was searched in connection with former Chairman Yoshiaki Tsutsumi's alleged involvement in falsifying financial statements on shareholdings in Seibu Railway Co. and insider trading. Tsutsumi was arrested.

(3)Business tycoon Tsutsumi arrested in Seibu share scam

TOKYO, Japan - Prosecutors raid the head office of Seibu Railway Co. (R) and the building that houses the headquarters of Kokudo Corp. in Tokorozawa, Saitama Prefecture near Tokyo on March. 3. The two firms were raided over former Kokudo Chairman Yoshiaki Tsustumi's alleged involvement in falsifying financial statements on shareholdings in the railway operator and insider trading. Tsutsumi was arrested. (Kyodo)

(3)Business tycoon Tsutsumi arrested in Seibu share scam

Shareholders seek 350 mil. yen damages from Seibu, Kokudo

TOKYO, Japan - Plaintiffs suing scandal-tainted Seibu Railway Co, its parent Kokudo Corp., and former top executives enter the Tokyo District Court building Feb. 1. A total of 211 individuals and two companies holding shares in Seibu Railway jointly sought more than 350 million yen in damages. The plaintiffs had purchased Seibu Railway shares before the company revealed its long-time practice of falsifying its financial statements. (Kyodo)

(2)Yoshiaki Tsutsumi resigns from all posts

TOKYO, Japan - Kokudo Corp. Chairman Yoshiaki Tsutsumi bows his head at a press conference Oct. 13. Tsutsumi resigned from all the posts he held in the company and Seibu Railway Co.'s group firms to take responsibility for revising Seibu Railway's financial statements. Tsutsumi, also the owner of the Seibu Lions professional baseball club, intends to resign from the post as well after the end of the Japan Series in which the team will compete later in October.