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Seibu Railway shareholders OK plan to reorganize group operations

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.

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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.

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Politicians keep eye on possible effects of Tsutsumi's arrest

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks to reporters at his office on March 3 about the arrest earlier in the day of Yoshiaki Tsutsumi, former chairman of Kokudo Corp.

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(5)Business tycoon Tsutsumi arrested in Seibu share scam

OSAKA, Japan - A large screen at a railway station in Osaka runs news on the arrest of former Kokudo Corp. Chairman Yoshiaki Tsutsumi on March 3. Tsutsumi, once listed by Forbes magazine as the world's richest man, was arrested for his alleged involvement in falsifying financial statements on shareholdings in Seibu Railway Co. and insider trading.

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(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.

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(4)Business tycoon Tsutsumi arrested in Seibu share scam

TOKYO, Japan - A vehicle carrying former Kokudo Corp. Chairman Yoshiaki Tsutsumi enters the Tokyo Detention House on March 3. Tsutsumi, once listed by Forbes magazine as the world's richest man, was arrested for his alleged involvement in falsifying financial statements on shareholdings in Seibu Railway Co. and insider trading.

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(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.

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(1)Business tycoon Tsutsumi arrested in Seibu share scam

TOKOROZAWA, Japan - A vehicle believed to be carrying former Kokudo Corp. Chairman Yoshiaki Tsutsumi leaves a hotel in Tokyo on March 3 after prosecutors asked him to appear before them for questioning over allegations of making false statements about shareholdings in Seibu Railway Co. and insider trading. He was arrested later.

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Tsutsumi accepts Seibu group reform plan

TOKYO, Japan - Toshiyuki Ono, president of Kokudo Corp., reads out a statement by Yoshiaki Tsutsumi, former Kokudo chairman, during a press conference in Tokyo on Feb. 25. In the statement, Tsutsumi said he has accepted a restructuring plan for the Seibu Railway Co. group that will split up Kokudo and dilute Tsutsumi's influence in the conglomerate.

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(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.

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Kokudo's Tsutsumi to resign as chairman

TOKYO, Japan - Kokudo Corp. Chairman Yoshiaki Tsutsumi announces Oct. 13 he will resign from his post to take responsibility for revising the company's financial statements. Tsutsumi, owner of the Seibu Lions professional baseball club, will also resign from that post after the end of the Japan Series in which the team will compete later in October.

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(2)Another merger between PL baseball clubs in works

TOKYO, Japan - Seibu Lions owner Yoshiaki Tsutsumi tells reporters in Tokyo on July 7 that a merger between Pacific League professional baseball clubs is in the works in addition to the ongoing merger talks between the Orix BlueWave and Kintetsu Buffaloes.

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(2)Seibu Railway Chairman Tsutsumi to resign over scandal

TOKOROZAWA, Japan - Seibu Railway Co. Chairman Yoshiaki Tsutsumi (R) speaks at a press conference at his company head office in Tokorozawa, Saitama Prefecture, on April 14 of his intention to resign over a payoff scandal involving three company executives. ''I will step down to take moral responsibility for failing to supervise the executives adequately and for allowing the scandal to happen,'' Tsutsumi said.

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Seibu Railway Chairman Tsutsumi to resign over scandal

TOKOROZAWA, Japan - Seibu Railway Co. Chairman Yoshiaki Tsutsumi tells reporters April 14 in Tokorozawa, Saitama Prefecture, that he will resign over a payoff scandal involving three company executives. Tsutsumi, 69, said he will completely withdraw from the railway business.

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Ito officially takes helm for Seibu

TOKYO, Japan - Seibu Lions veteran catcher Tsutomu Ito (L) shakes hands with Seibu owner Yoshiaki Tsutsumi in Tokyo on Oct. 7 as he was formally introduced as new manager of the Pacific League club the same day. Ito retired at the end of the team's regular season.

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Seibu Lions manager Higashio calls it quits

TOKOROZAWA, Japan - Seibu Lions manager Osamu Higashio (R) shakes hands with team owner Yoshiaki Tsutsumi at Seibu Dome in Tokorozawa, Saitama Prefecture, on Sept. 30 in talks prior to the day's game against the Nippon Ham Fighters. They agreed on Higashio's resignation as manager after the end of this year's season.

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Seibu pitcher Matsuzaka to become pitch man

TOKYO, Japan - Seibu Lions rookie pitcher Daisuke Matsuzaka (C) is all smiles at a Tokyo hotel Dec. 13 after it was announced that the 19-year-old superstar had signed a 400 million yen contract with five major Japanese companies to do a series of commercials. Seibu owner Yoshiaki Tsutsumi is on the left.

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Obuchi enjoys a golf holiday in Karuizawa

KARUIZAWA, Japan - Prime Minister Keizo Obuchi (R) enjoys playing golf on his summer holidays in Karuizawa, Nagano Prefecture, on Aug. 16. Among political and business figures playing with Obuchi were Tsutomu Hata, secretary general of the Democratic Party of Japan, Goro Yoshimura, governor of Nagano Prefecture, and Yoshiaki Tsutsumi (L), chairman of Seibu Railway Co.

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(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. (Kyodo)

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Kokudo's Tsutsumi to resign as chairman

TOKYO, Japan - Kokudo Corp. Chairman Yoshiaki Tsutsumi announces Oct. 13 he will resign from his post to take responsibility for revising the company's financial statements. Tsutsumi, owner of the Seibu Lions professional baseball club, will also resign from that post after the end of the Japan Series in which the team will compete later in October. (Kyodo)

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Tsutsumi accepts Seibu group reform plan

TOKYO, Japan - Toshiyuki Ono, president of Kokudo Corp., reads out a statement by Yoshiaki Tsutsumi, former Kokudo chairman, during a press conference in Tokyo on Feb. 25. In the statement, Tsutsumi said he has accepted a restructuring plan for the Seibu Railway Co. group that will split up Kokudo and dilute Tsutsumi's influence in the conglomerate. (Kyodo)

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(5)Business tycoon Tsutsumi arrested in Seibu share scam

OSAKA, Japan - A large screen at a railway station in Osaka runs news on the arrest of former Kokudo Corp. Chairman Yoshiaki Tsutsumi on March 3. Tsutsumi, once listed by Forbes magazine as the world's richest man, was arrested for his alleged involvement in falsifying financial statements on shareholdings in Seibu Railway Co. and insider trading. (Kyodo)

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Politicians keep eye on possible effects of Tsutsumi's arrest

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks to reporters at his office on March 3 about the arrest earlier in the day of Yoshiaki Tsutsumi, former chairman of Kokudo Corp. (Kyodo)

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(4)Business tycoon Tsutsumi arrested in Seibu share scam

TOKYO, Japan - A vehicle carrying former Kokudo Corp. Chairman Yoshiaki Tsutsumi enters the Tokyo Detention House on March 3. Tsutsumi, once listed by Forbes magazine as the world's richest man, was arrested for his alleged involvement in falsifying financial statements on shareholdings in Seibu Railway Co. and insider trading. (Kyodo)

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(1)Business tycoon Tsutsumi arrested in Seibu share scam

TOKYO, Japan - A vehicle believed to be carrying former Kokudo Corp. Chairman Yoshiaki Tsutsumi leaves a hotel in Tokyo on March 3 after prosecutors asked him to appear before them for questioning over allegations of making false statements about shareholdings in Seibu Railway Co. and insider trading. He was arrested later. (Kyodo)

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(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. (Kyodo)

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Former Kokudo chief Tsutsumi released on 100 mil. yen bail

TOKYO, Japan - Former Kokudo Corp. Chairman Yoshiaki Tsutsumi walks down toward his car March 24 after being released on 100 million yen bail following his indictment the previous day on charges of taking a leading role in making false reports on Kokudo's shareholdings in Seibu Railway Co. and of insider trading of shares in the railway operator. (Kyodo)

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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)

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(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)

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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. (Kyodo)

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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)

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Seibu Lions manager Higashio calls it quits

TOKOROZAWA, Japan - Seibu Lions manager Osamu Higashio (R) shakes hands with team owner Yoshiaki Tsutsumi at Seibu Dome in Tokorozawa, Saitama Prefecture, on Sept. 30 in talks prior to the day's game against the Nippon Ham Fighters. They agreed on Higashio's resignation as manager after the end of this year's season.

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(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)

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Prosecutors demand 3-yr prison term for ex-business tycoon Tsuts

TOKYO, Japan - Yoshiaki Tsutsumi, former chairman of Kokudo Corp. and Seibu Railway Co., arrives at the Tokyo District Court to attend his trial on Sept. 9. Prosecutors demanded a prison term of three years and fine of 5 million yen for Tsutsumi, who has pleaded guilty to charges of falsifying financial statements and insider trading. (Kyodo)

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Tsutsumi gets 30-month suspended term in Seibu share case

TOKYO, Japan - Yoshiaki Tsutsumi, who had led the railway and resort conglomerate Seibu Railway Co. group and was once listed as the world's richest man, was sentenced to 30 months in prison, suspended for four years, on Oct. 27 due to his role in a high-stake Seibu share financial scandal. Photo shows Tsutsumi entering the Tokyo District Court the same day. (Kyodo)

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(2)Seibu Railway Chairman Tsutsumi to resign over scandal

TOKOROZAWA, Japan - Seibu Railway Co. Chairman Yoshiaki Tsutsumi (R) speaks at a press conference at his company head office in Tokorozawa, Saitama Prefecture, on April 14 of his intention to resign over a payoff scandal involving three company executives. ''I will step down to take moral responsibility for failing to supervise the executives adequately and for allowing the scandal to happen,'' Tsutsumi said. (Kyodo)

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(2)Another merger between PL baseball clubs in works

TOKYO, Japan - Seibu Lions owner Yoshiaki Tsutsumi tells reporters in Tokyo on July 7 that a merger between Pacific League professional baseball clubs is in the works in addition to the ongoing merger talks between the Orix BlueWave and Kintetsu Buffaloes. (Kyodo)

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Seibu Railway Chairman Tsutsumi to resign over scandal

TOKOROZAWA, Japan - Seibu Railway Co. Chairman Yoshiaki Tsutsumi tells reporters April 14 in Tokorozawa, Saitama Prefecture, that he will resign over a payoff scandal involving three company executives. Tsutsumi, 69, said he will completely withdraw from the railway business. (Kyodo)

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Ito officially takes helm for Seibu

TOKYO, Japan - Seibu Lions veteran catcher Tsutomu Ito (L) shakes hands with Seibu owner Yoshiaki Tsutsumi in Tokyo on Oct. 7 as he was formally introduced as new manager of the Pacific League club the same day. Ito retired at the end of the team's regular season. (Kyodo)

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Obuchi enjoys a golf holiday in Karuizawa

KARUIZAWA, Japan - Prime Minister Keizo Obuchi (R) enjoys playing golf on his summer holidays in Karuizawa, Nagano Prefecture, on Aug. 16. Among political and business figures playing with Obuchi were Tsutomu Hata, secretary general of the Democratic Party of Japan, Goro Yoshimura, governor of Nagano Prefecture, and Yoshiaki Tsutsumi (L), chairman of Seibu Railway Co.

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JOC president announces his resignation

TOKYO, Japan - Yoshiaki Tsutsumi, president of the Japanese Olympic Committee, attends a JOC emergency meeting at Kishi Memorial Sports Hall in Tokyo's Shibuya Ward. The photo was taken on April 12, 1990. (Kyodo)