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...Smaller lenders are increasingly under stress due to the country's stumbling economy and growing competition with new banks set up by the ongoing privatization of Japan's postal system, which for decades acted as a government-run banking system. Hiromichi Shirakawa, chief economist at Credit Suisse Japan, says that several regional banks have also been hurt by investments in securities sold by the bankrupt Wall Street giant Lehman Brothers, and by soured subprime-related securities holdings...

Author: /time Magazine | Title: Japan Moves to Protect its Financial System | 10/16/2008 | See Source »

Last week General Douglas MacArthur suddenly discovered that the War of the Chrysanthemums still smoldered. To the Allied Commander from one Hiromichi Kumazawa, self-styled "Emperor" and 19th direct lineal descendant of Go-Daigo, came a petition requesting a full and impartial investigation of his claim to be Japan's rightful sovereign. To the pretender's "secret hideout" went LIFE Correspondent Richard E. Lauterbach. His report...

Author: /time Magazine | Title: Foreign News: Pretender | 1/21/1946 | See Source »

...Emperor' Hiromichi (meaning Way of the Great Heart) is 56, unwrinkled, smooth-shaven from crown to chin except for a thin, reddish mustache. He lives incognito as a shopkeeper in the back room of a shabby general store on the outskirts of a bombed-out city. On his black kimono he wears the 16-petaled chrysanthemum forbidden to any but the Emperor of Japan. On his feet are a farmer's wooden geta. He is a devout Buddhist...

Author: /time Magazine | Title: Foreign News: Pretender | 1/21/1946 | See Source »

...reigning imperial household,' said Hiromichi, 'has aggressed on me and my rights and on the rest of the world. ... I consider Hirohito a war criminal. MacArthur is heaven's messenger to Japan. . . . My father, who died in 1915, left a will to exert every effort to realize the family's true place. Until his wish is carried out . . . my father will have no grave, no altar...

Author: /time Magazine | Title: Foreign News: Pretender | 1/21/1946 | See Source »

...Suddenly Hiromichi wept. His aide bowed and presented me with a parchment on which the master had written a poem. Entitled World Brotherhood, it read...

Author: /time Magazine | Title: Foreign News: Pretender | 1/21/1946 | See Source »

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