Word: miyazawa
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Dates: during 1980-1989
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Liberal Democratic Party Secretary General Shintaro Abe and Kiichi Miyazawa, both leading candidates when Takeshita was chosen party leader in November 1987, are considered out of the running now because of their own ties to the scandal...
...Miyazawa was one of three Cabinet ministers who resigned because of links to the scandal involving Japan's giant Recruit Co., an information services conglomerate. In addition, prosecutors arrested 14 people, including two former vice ministers, on bribery or securities law violation...
...unseemliness of the deals has forced the resignation of Ezoe and 20 other people. The first big political casualty: Finance Minister Kiichi Miyazawa, who resigned last month. He was caught in a net of contradictory denials, and finally admitted that an aide had taken part in the Recruit offerings, using the Minister's name. Ironically, the fall of Miyazawa strengthened the political position of Takeshita, since the men had been rivals in the ruling Liberal Democratic Party. Five days later, Hisashi Shinto, chairman of the giant Nippon Telegraph and Telephone, stepped aside after conceding his involvement in the Recruit stock...
...Recruit Cosmos, 20 people implicated in the scheme have given up their posts. Last week Hisashi Shinto, 78, chairman of the giant firm Nippon Telegraph & Telephone, resigned after admitting that his bank account contained $73,000 in profits from the Recruit deal. Just five days earlier, Finance Minister Keiichi Miyazawa had departed under a similar cloud...
...major point: "The United States wants to see stability in the dollar." Despite such jawboning, the world's moneymen seem convinced that the dollar cannot strengthen as long as the U.S. trade deficit, estimated at a record $175 billion in 1987, keeps rising. Says Japanese Finance Minister Kiichi Miyazawa: "There may be a feeling that one cannot quite believe that the U.S. trade balance is really going to improve...