Former Livedoor Co. Chief Financial Officer Ryoji Miyauchi told the Tokyo District Court on Tuesday that Livedoor founder Takafumi Horie played a key role when the Internet company decided whether to take over other firms.
"Horie took part in the decision-making process, because it was the Livedoor group that conducted corporate acquisitions," Miyauchi, 38, told the court, where he is being tried along with three other former Livedoor executives and the company for accounting fraud.
The trial began May 26. The four men have pleaded guilty to falsifying the firm's earnings figures for the business year to September 2004. Falsifying earnings is a violation of the Securities and Exchange Law.