Horiemon 5

Miyauchi was not able to avert a prison term and was sentenced to 20 months in prison. The others got suspended sentences.
I did a story on how people are questioning the harsh treatment Horie is getting vs. Nikko Cordial. Another link. And an updated version of the story on the possibly double standard in Japanese justice. Some are even hinting the authorities are getting lenient because Citigroup is interested in taking over Nikko Cordial. Delisting Nikko Cordial would have saved money for Citigroup by making NC shares cheaper. But NC's reputation would have been devastated. By not delisting, its reputation stays intact and you prevent an exodus of the best workers from Nikko, according to pundits. For the cynics, the message is: It pays to be big and powerful, and maybe American in Japan.