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Shareholders nix Steel Partners-proposed management change

TOKYO, Japan - Sapporo Holdings Ltd. President Takao Murakami speaks at a news conference at a hotel in Tokyo on March 30, 2010, after the company's shareholders voted down U.S. investment fund Steel Partners Japan Strategic Fund (Offshore) L.P.'s proposal to reshuffle the board of directors.

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Sapporo rejects Steel Partners' plan

TOKYO, Japan - Takao Murakami, president of Sapporo Holdings Ltd., speaks about a proposal from its top shareholder Steel Partners Japan Strategic Fund (Offshore) L.P. for the selection of the company's 10-member board during a press conference in Tokyo on Feb. 12, 2010. Murakami said the company will reject the proposal as the current board is sufficiently competent to carry out plans to strengthen the company's business.

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Sapporo opposes takeover proposal from Steel Partners

TOKYO, Japan - Sapporo Holdings Ltd. President Takao Murakami speaks during a news conference in Tokyo on Feb. 26. Sapporo Holdings announced its opposition to a takeover proposal from U.S. hedge fund Steel Partners.

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Ex-fund manager Murakami gets 2-year prison term for insider trading

TOKYO, Japan - Former investment fund manager Yoshiaki Murakami (far left) walks into the Tokyo District Court to attend his trial on July 19. The court sentenced him to two years in prison, without suspension, and imposed a record 1.15 billion yen surcharge for insider stock trading in 2004 and 2005.

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Sapporo's anti-takeover steps approved by shareholders

TOKYO, Japan - Sapporo Holdings Ltd. President Takao Murakami speaks at a press conference in Tokyo on march 29 after the company's anti-takeover measures were approved at its general shareholders meeting, a move that could exacerbate its tense ties with U.S. hedge fund Steel Partners over their acquisition battle.

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Sapporo asks Steel Partners to clarify aim of takeover bid

TOKYO, Japan - Sapporo Holdings Ltd. President Takao Murakami speaks at a news conference at the Tokyo Stock Exchange on March 1 as the company, the target of an unwanted takeover bid by U.S. hedge fund Steel Partners, said it has called on the fund to give more details on the purpose of the proposed acquisition. The move suggests that Sapporo, Japan's third-largest brewery, may exercise anti-takeover measures against Steel Partners.

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Financier Murakami released on bail of 500 million yen

TOKYO, Japan - A car carrying Yoshiaki Murakami, the founder of Japan's best-known investment fund, who has been indicted on insider-trading charges, leaves the Tokyo Detention House on June 26. Murakami was released on a bail of 500 million yen.

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Fukui testifies before upper house panel on investment controversy

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui testifies on June 23 during a meeting of the House of Councillors Financial Affairs Committee about his investment in the Murakami Fund in 1999.

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Fukui testifies before upper house panel on investment controversy

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui testifies on June 23 during a meeting of the House of Councillors Financial Affairs Committee about his investment in the Murakami Fund in 1999.

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Lower house panel again summons BOJ chief over fund investment

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui (L) apologizes at a Diet panel on June 22 that he has caused trouble to people in various quarters with his controversial investment in a fund founded by high-profile investor Yoshiaki Murakami who has recently been arrested.

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Lower house panel again summons BOJ chief over fund investment

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui apologizes at a Diet panel on June 22 that he has caused trouble to people in various quarters with his controversial investment in a fund founded by high-profile investor Yoshiaki Murakami who has recently been arrested.

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BOJ chief's Murakami Fund investment grew to 22.31 million yen

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui looks at papers during an ad hoc press conference he called on June 20 to explain his investment in the Murakami Fund.

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BOJ chief's Murakami Fund investment grew to 22.31 million yen

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks at a press conference at the central bank office on June 20 on his investment in the Murakami Fund, whose founder has been arrested on suspicion of insider trading. Fukui said that he will return 30 percent of his monthly salary for six months to take responsibility for the confusion caused by his investment in the fund, founded by arrested financier Yoshiaki Murakami.

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BOJ chief's Murakami Fund investment grew to 22.31 million yen

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui bows in a gesture of apology during a press conference he held on June 20 to explain his investment in the Murakami Fund. ''It is very regrettable that this case undermined public trust in the BOJ,'' Fukui said.

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DPJ lawmaker Matsui admits Murakami Fund links

KYOTO, Japan - Koji Matsui, a Democratic Party of Japan member of the House of Councillors, apologizes during a press conference in Kyoto on June 20. He said a company affiliated with the Murakami Fund temporarily paid the salaries of his two secretaries and he himself received payments from the fund under an employment contract.

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BOJ's Fukui reaped big gains from investing in Murakami Fund

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks in reply to questions at a House of Representatives Financial Affairs Committee session on June 16. He said that unrealized gains he made by putting 10 million yen in an investment fund set up by arrested financier Yoshiaki Murakami climbed to several millions of yen a year at one time.

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BOJ chief denies possible resignation over fund investment

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui leaves a news conference site at his bank on June 15. He ruled out the possibility that he will resign to take the blame for his investment in a fund founded by Yoshiaki Murakami, who was arrested last week for alleged insider stock trading.

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Fukui attends Diet committee over investment in Murakami Fund

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui is questioned at a Diet committee session on June 15 over a 10 million yen investment he made in the Murakami Fund.

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Fukui's ties with Murakami Fund may affect zero-rate policy

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui attends a meeting of Cabinet ministers in charge of economic affairs at the prime minister's official residence on June 13. Analysts said that Fukui's acknowledgement of his investment in the fund founded by arrested financier Yoshiaki Murakami could delay the timing of ending the central bank's zero-interest rate policy.

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Fukui put 10 mil. yen in Murakami Fund before becoming BOJ chief

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks at a session of the House of Councillors Financial Affairs Committee in Tokyo on June 13. Fukui said he invested 10 million yen in 1999 in the investment fund led by Yoshiaki Murakami, who was arrested June 5 on suspicion of insider trading.

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Extra reports on arrest of Murakami Fund's manager

TOKYO, Japan - Copies of a newspaper special edition, reporting on the arrest of investment fund manager Yoshiaki Murakami on suspicion of insider stock trading, are distributed in front of Tokyo's Roppongi Hills on June 5.

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Fund mogul Murakami arrested over suspected insider trading

TOKYO, Japan - Prosecutors head for the Murakami Fund's office in Tokyo's Roppongi Hills on June 5 to collect evidence of the investment fund's alleged insider trading.

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Koizumi comments on arrest of Murakami Fund's manager

TOKYO, Japan - Prime Minister Junichiro Koizumi makes comments at his office in Tokyo on June 5 on the arrest of Yoshiaki Murakami, Japan's most famous investment fund manager, who was arrested earlier in the day on suspicion of insider stock trading.

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Fund mogul Murakami arrested over suspected insider trading

TOKYO, Japan - A car carrying Yoshiaki Murakami, Japan's most famous investment fund manager, arrives at the Tokyo Detention House June 5 after he was arrested early in the day on suspicion of insider stock trading in connection with his investment fund's purchases of Nippon Broadcasting System Inc. shares from late 2004 to early 2005.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami leaves a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami speaks at a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami holds a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami bows in apology during a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami speaks at a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Fund mogul Murakami admits to insider trading

TOKYO, Japan - Investment fund mogul Yoshiaki Murakami bows in apology during a press conference at the Tokyo Stock Exchange in Tokyo's Nihombashi district on June 5. Murakami admitted to having engaged in insider stock trading.

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Murakami likely to be grilled over possible insider trading

TOKYO, Japan - Prosecutors are expected to question investment fund operator Yoshiaki Murakami (photo) shortly as they investigate whether his fund engaged in insider trading in connection with its purchases of shares in Nippon Broadcasting System Inc., sources familiar with the matter said on June 2.

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Murakami Fund probed over possible insider stock trading

TOKYO, Japan - Photo taken on June 2 shows the Roppongi Hills building that housed the offices of the Murakami Fund, led by financier Yoshiaki Murakami. Prosecutors are investigating whether the fund conducted insider stock trading in connection with its purchases of shares in Nippon Broadcasting System Inc., sources familiar with the matter said.

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Murakami Fund probed over possible insider stock trading

TOKYO, Japan - Yoshiaki Murakami, head of the Murakami Fund, speaks with reporters after attending a shareholders general meeting of Nippon Broadcasting System Inc. in Tokyo in June 2005. Prosecutors are investigating whether his fund conducted insider stock trading in connection with its purchases of Nippon Broadcasting System shares, sources familiar with the matter said on June 2.

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Hankyu to launch tender offer for Hanshin shares

OSAKA, Japan - Hankyu Holdings Inc. President Kazuo Sumi (L) and Hanshin Electric Railway Co. President Kyoji Nishikawa (R) shake hands in Osaka on May 29. Hankyu Holdings said the same day it will launch a public tender offer May 30 for shares of Hanshin Electric, though it has yet to agree on the purchase price with Hanshin's largest shareholder, the Murakami Fund.

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Hankyu to launch tender offer for Hanshin shares

OSAKA, Japan - File photos show the head offices of Hanshin Electric Railway Co. (L) and Hankyu Holdings Inc. (R). Hankyu Holdings said May 29 it will launch a public tender offer May 30 for shares of Hanshin Electric, though it has yet to agree on the purchase price with Hanshin's largest shareholder, the Murakami Fund.

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Hankyu hopes to resolve talks with Murakami Fund by mid-May

OSAKA, Japan - Hankyu Holdings Inc. President Kazuo Sumi speaks in an interview with Kyodo News in Osaka on May 8. He said Hankyu will seek to settle stalled negotiations over the purchase of the so-called Murakami Fund's stake in Hanshin Electric Railway Co. by the middle of May.

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Murakami Fund seeking majority control of Hanshin board

OSAKA, Japan - Kazuyoshi Nawata, managing director of Hanshin Electric Railway Co., speaks at a press conference on May 2 after an investment fund headed by financier Yoshiaki Murakami said it has called for the railway operator to accept nine board members, or a majority of its board, recommended by the fund.

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Murakami Fund seeking majority control of Hanshin board

OSAKA, Japan - An investment fund having the largest equity stake in Hanshin Electric Railway Co. said on May 2 it has called for the railway operator to accept nine board members, or a majority of its board, recommended by the fund. Photos show (from left to right) Yoshiaki Murakami, who head the investment fund, and Kyoji Nishikawa, president of Hanshin Electric Railway Co.

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Hankyu to formally decide on purchasing Hanshin shares: sources

OSAKA, Japan - File photos show the head office of Hanshin Electric Railway Co. (L) and the head office of Hankyu Corp. Hankyu Holdings Inc., which owns Hankyu Corp., will soon make a formal decision to purchase all the Hanshin Electric Railway Co. shares held by an investment fund led by financier Yoshiaki Murakami, possibly paving the way for management integration of the two railway operators, company sources said on April 18.

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Financier Murakami isn't sticking to plan to list Tigers

OSAKA, Japan - Financier Yoshiaki Murakami speaks to reporters at the head office of Hanshin Electric Railway Co. in Osaka on Oct. 11 after talks with Hanshin President Kyoji Nishikawa. The talks between Murakami and Nishikawa were the first since the revelation in late September that the Murakami Fund had acquired a major stake in the railway company.

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TBS to issue new shares, move seen as takeover defense

TOKYO, Japan - Financier Yoshiaki Murakami (R) speaks at a press conference at the Tokyo Stock Exchange on Aug. 31 after Tokyo Broadcasting System Inc. announced plans to raise a total of about 28 billion yen by selling new and outstanding shares to Dentsu Inc. and three other companies. Murakami tacitly criticized the TBS move, saying, ''In capital increases, it should be taken into account whether there are real fund needs.'' Murakami declined to comment on whether he owns TBS shares.

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TBS to issue new shares, move seen as takeover defense

TOKYO, Japan - Tokyo Broadcasting System Inc. Managing Director Keizo Zaitsu (L) speaks as Executive Director Kenichiro Kidokoro looks on at a press conference in Tokyo on Aug. 31. Zaitsu said TBS will raise a total of about 28 billion yen in September by selling new and outstanding shares to Dentsu Inc. and three other companies to help finance new mobile phone and Internet-related businesses. The step is being regarded as a measure to increase friendly long-term shareholders and discourage a hostile takeover, since an investment fund led by financier Yoshiaki Murakami has reportedly acquired some TBS shares and is eyeing a management buyout.

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Murakami Fund blames OSE chief for listing freeze

OSAKA, Japan - Investment fund operator Yoshiaki Murakami speaks to reporters at the Osaka Securities Exchange in Osaka on June 22 after the OSE's general shareholders' meeting.

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Murakami Fund to seek OSE chief's resignation

TOKYO, Japan - Investment fund operator Yoshiaki Murakami speaks at an investor seminar held by the Osaka Securities Exchange in Tokyo on June 8. Murakami said that OSE President Michio Yoneda was ''unqualified'' for the job and his fund, the OSE's biggest shareholder, will call for his resignation.

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Murakami Fund acquires 10% stake in OSE

OSAKA, Japan - M&A Consulting Inc., an investment fund led by former trade ministry official Yoshiaki Murakami, has apparently emerged as the largest shareholder of the Osaka Securities Exchange Co. (in photo) by acquiring a 10 percent equity stake in the operator of Japan's second-largest stock exchange, according to a report submitted to the government by the fund on April 11.

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Murakami Fund acquires 10% stake in OSE

OSAKA, Japan - M&A Consulting Inc., an investment fund led by former trade ministry official Yoshiaki Murakami, has apparently emerged as the largest shareholder of the Osaka Securities Exchange Co. (in photo) by acquiring a 10 percent equity stake in the operator of Japan's second-largest stock exchange, according to a report submitted to the government by the fund on April 11. (Kyodo)

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Murakami Fund to seek OSE chief's resignation

TOKYO, Japan - Investment fund operator Yoshiaki Murakami speaks at an investor seminar held by the Osaka Securities Exchange in Tokyo on June 8. Murakami said that OSE President Michio Yoneda was ''unqualified'' for the job and his fund, the OSE's biggest shareholder, will call for his resignation. (Kyodo)

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Murakami Fund blames OSE chief for listing freeze

OSAKA, Japan - Investment fund operator Yoshiaki Murakami speaks to reporters at the Osaka Securities Exchange in Osaka on June 22 after the OSE's general shareholders' meeting. (Kyodo)

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TBS to issue new shares, move seen as takeover defense

TOKYO, Japan - Tokyo Broadcasting System Inc. Managing Director Keizo Zaitsu (L) speaks as Executive Director Kenichiro Kidokoro looks on at a press conference in Tokyo on Aug. 31. Zaitsu said TBS will raise a total of about 28 billion yen in September by selling new and outstanding shares to Dentsu Inc. and three other companies to help finance new mobile phone and Internet-related businesses. The step is being regarded as a measure to increase friendly long-term shareholders and discourage a hostile takeover, since an investment fund led by financier Yoshiaki Murakami has reportedly acquired some TBS shares and is eyeing a management buyout. (Kyodo)

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Financier Murakami isn't sticking to plan to list Tigers

OSAKA, Japan - Financier Yoshiaki Murakami speaks to reporters at the head office of Hanshin Electric Railway Co. in Osaka on Oct. 11 after talks with Hanshin President Kyoji Nishikawa. The talks between Murakami and Nishikawa were the first since the revelation in late September that the Murakami Fund had acquired a major stake in the railway company. (Kyodo)