Murakami admission roils activist managers in Japan

Yoshiaki Murakami has resigned his position as head of the eponymous Murakami Fund and owned up to insider trading violations. This admission pre-empts his likely arrest and follows the discovery of incriminating meeting notes written by LivedoorÆs president Takafumie Horie.Can this be characterised as æOld JapanÆ protecting itself by conspiring to squelch the young upstarts? The evidence suggests that in truth they nobbled themselves, as HorieÆs notes discussed their joint collaborat…