Livedoor Co. President Kozo Hiramatsu, testifying in court Friday, apologized for his company's having misled the stock market by releasing false announcements and window-dressing for the business year to Sept. 30, 2004, before he assumed his position.
"Our management's attention used to be directed only at our stock price," Hiramatsu told the Tokyo District Court.
Hiramatsu, elected to the post of Livedoor representative director at a shareholder meeting June 14, was testifying on behalf of the firm at a trial session presided over by Judge Toshiyuki Kosaka.