It wasn’t right. What Horie was supposed to show to investors, he lied about, and probably the same things have been going on in a lot of places. In America, he would probably be going to jail, but for Japan, I can’t say.
No he’s not. He’s a scapegoat. He is to blame for what happened, but I think many forces are not really unhappy to see his fall. As the CEO of his company, he should know what is going on — if not him, then who?
Project manager, 36
The regulatory environment in Japan is very lax — the Aneha case is also evidence of that. Historically, Japan has relied on indirect regulations like the honor system, which is not enforced. Offhand, I’d say he’ll probably get off lightly.
The market is full of individual investors, and these people aren’t fully aware. Horie looked for holes and didn’t think he’d get caught. He acted against the traditional way of thinking in Japan. So far, he’s getting what he deserves.
He seemed to come across as arrogant, and that is why he is being lambasted now. I think that what he’s done is wrong, because some investors bought their shares at artificially high prices, and that’s a bit deceitful.
I think the old guys are out to get him. I think he messed with the wrong people. He split shares to attract small investors and deceived those people. They’re the ones who lost all the money, so I think he should go down.