Stock delisting to cost Livedoor hundreds of millions of yen
February 23, 2006The Tokyo Stock Exchange's expected decision to delist Livedoor Co. from its Mothers market for young firms will cost the Internet company hundreds of millions of yen, market sources said Thursday. The TSE is expected to delist the company due to its suspected falsified earnings report for the business year to September 2004, running counter to the exchange's listing rule. The decision will force Livedoor to spend hundreds of millions of yen on printing massive stock certificates for delivery to shareholders, the sources said.
Japan logs trade deficit in Jan. for 1st time in 5 yrs
February 23, 2006Japan posted a customs-cleared trade deficit of 348.9 billion yen in January, the first monthly deficit in five years and the largest one in 23 years, the Finance Ministry said Thursday. The deficit -- the biggest since the 409.8 billion yen logged in January 1983 -- stemmed from higher oil prices, which inflated the value of imports, and shrinking exports given the Lunar New Year holidays in Asia and plant closures during the New Year's season in Japan, ministry officials and economists said.