Livedoor executives go on trial

Executives of Livedoor, the scandal-hit Japanese internet company, have gone on trial charged with breaking stock market rules and falsifying accounts.

The four men were arrested earlier this year with Livedoor’s founder and charismatic head boss Takafumi Horie.

Mr Horie, who rose to prominence for his willingness to attack Japan’s staid and traditional business world, will face trial on his own at a later date.

Mr Horie has been in custody since January and has denied the charges.

The four executives standing trial in Tokyo on Friday are Ryoji Miyauchi, Fumito Kumagai, Fumito Okamoto and Osanari Nakamura.

Along with Mr Horie, the executives have been charged with inflating profits at the internet firm and spreading false financial information about a transaction in 2004.

Livedoor’s problems prompted a stock market tumble in January, and led to calls for a shake-up in Japanese securities laws and regulation.