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...Since July, when the daily newspaper Asahi Shimbun accused 76 highly placed political and business leaders of unethical trading in shares of the real estate firm 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...

Author: /time Magazine | Title: INVESTIGATIONS: The Harder They Fall | 12/26/1988 | See Source »

...Japanese volleyball team. As soon as the unprepossessing quintet finished their cheer, a thunderous chant arose from two separate sections of the stadium: "U.S.A. ! U.S.A.! U.S.A.!" The matrons looked perturbed. "It's a little frightening, isn't it?" said one. Undeterred, they bravely waved their flags again: "Nippon! Nippon! Nippon!" Once more there came a tumultuous roar of "U.S.A.! U.S.A.! U.S.A.!" "It's a little dangerous, isn't it?" said another. The matrons looked around anxiously. Then, taking their sympathies firmly in their hands, they cried out once again, in Japanese, "Gambatte, gambatte, Kawai-san!" (Go, go, Mr. Kawai...

Author: /time Magazine | Title: Views From Row Z | 10/3/1988 | See Source »

...gold in three events. One Japanese, Shinji Hosokawa, came out of retirement specifically to face his Korean nemesis, Kim Jae Yup. To make matters even more interesting, the largest group of foreigners at the Games is, of course, from Japan -- eager, no doubt, to see how often Nippon can score an ippon...

Author: /time Magazine | Title: Olympics: Olympic Shorts: The Field's Fiercest Rivals | 9/26/1988 | See Source »

...already trading at astronomical prices in comparison with the profits of the companies that issued the shares, at least by American standards. On the New York Stock Exchange, such price-earnings ratios run about 15 to 1, while in Tokyo the multiples are often four times as high. Nippon Telegraph & Telephone trades at 158 times its earnings. "Japanese authorities have allowed a speculative bubble to grow," warns George Soros, manager of the New York City-based Quantum Fund. "At no time in the past has a bubble of this magnitude been deflated in an orderly manner...

Author: /time Magazine | Title: Is Tokyo's Bull Riding Too High? | 8/8/1988 | See Source »

Broadcast live by Nippon Television Network from the summit, the alpine telecast captured another historic moment: the first time that two teams had scaled the mountain simultaneously from the Nepal and Tibet sides...

Author: /time Magazine | Title: Accomplishments: Live, from Mount Everest | 5/16/1988 | See Source »

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