Trio suspected of collecting ¥500 million in FX investments without license
On 11 occasions over a one-year period through last August, Kiyofumi Takamori, the 77-year-old CEO of the Sapporo City-based investment company Earth One, his wife, 55-year-old Rika, and Yasunori Tanaka, 49, are suspected of collecting a total of around 70.3 million yen in forex exchange investments without a government-approved license from three customers, including a woman in her 40s from Yokohama City.
In soliciting the funds, one of the suspects claimed, 'If you invest, you will receive 10 times that amount in seven years.' The suspects also disguised the investments as being actually advice fees, calling them 'advisory contracts.'
In commenting on allegations of violating the Financial Instruments and Exchange Act, Kiyofumi Takamori partially denied the allegations, 'It's true that we conducted transactions without registration, but we did not disguise the contracts.' Meanwhile, Tanaka admits to the allegations. Rika denies involvement. Kiyofumi Takamori, left, his wife Rika, center, and Yasunori Tanaka (X)
According to police, no dividends were paid to the three victims. As well, the suspects hardly responded to requests for refunds.
Prefectural police believe that Takamori and his associates raised approximately 485 million yen from at least 34 people between September 2021 and October 2024. Prefectural police are currently investigating the flow of money received from customers as the investigation continues.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Mainichi
10 hours ago
- The Mainichi
Nintendo net profit jumps 18% in April-June on strong Switch 2 sales
TOKYO (Kyodo) -- Nintendo Co. said Friday its net profit in the three months through June jumped 18.6 percent from a year earlier to 96.03 billion yen ($638 million), as its newly launched Switch 2 gaming console got off to a solid start. Sales jumped 2.3-fold to 572.36 billion yen, while operating profit rose 4.4 percent to 56.93 billion yen in the April-June quarter, the Kyoto-based gaming giant said. The upbeat results came as Nintendo released the Switch 2, its first new console in more than eight years, on June 5. Nintendo sold 5.82 million units of the Switch 2 during the quarter, up from 2.1 million units of the previous model in the same period last year. Nintendo sold 33.07 million copies of software in the three-month period, including 8.67 million for the Switch 2, up from 30.64 million for the original model a year earlier. Among game titles, "Mario Kart World," which was released on the same day as the hardware, posted sales of 5.63 million copies. As the Switch 2 is compatible with game software for the older Switch, titles such as "Mario Kart 8 Deluxe" and "Super Mario Party Jamboree" also contributed to sales growth, the company said. Nintendo left unchanged its earnings forecast for the year through March 2026, expecting a 7.6 percent rise in net profit to 300 billion yen on sales of 1.9 trillion yen, up 63.1 percent. For the full business year, Nintendo aims to sell 15 million Switch 2 consoles and 45 million copies of game software for the new device. Nintendo President Shuntaro Furukawa said in May that the earnings forecast for the year ending March 2026 reflects a negative impact from higher U.S. import tariffs. He said if the company decides to raise prices of its products, the move could slow sales. Japan cut a deal with the United States last week on a 15 percent tariff on cars and other products. The agreement will not affect its earnings forecast, the company said in a release.
The Mainichi
12 hours ago
- The Mainichi
Nippon Steel to fall in red due to special loss over US Steel deal
TOKYO (Kyodo) -- Nippon Steel Corp. on Friday said it expects to end the fiscal year through March in the red by about 40 billion yen ($265 million), due to a one-off share transfer loss linked to the acquisition of United States Steel Corp. The company's latest outlook, a sharp reversal from its earlier forecast of a 200 billion yen net profit, includes a special loss of 240 billion yen from the sale of all its shares in an Alabama-based joint venture with global steel supplier ArcelorMittal SA. The earlier planned transaction was executed after the U.S. Steel purchase was finalized to address antitrust concerns. For the April-June quarter, it said revenues fell by 8.3 percent to 2.01 trillion yen, while it booked an operating loss of 139.56 billion yen and a net loss of 195.83 billion yen. Nippon Steel said in June it completed the $14.1 billion buyout of U.S. Steel after securing a national-security agreement with the administration of U.S. President Donald Trump, putting an end to a year-and-a half struggle to advance the deal with the iconic American company. The Japanese producer expects a full-year loss despite incorporating earnings of U.S. Steel for the nine months from July, expecting a lift by 80 billion yen. But "uncertainties persist" regarding the impact of Trump's higher tariffs on steel, auto and other products, Nippon Steel Executive Vice President Takahiro Mori said at a press conference.
Nikkei Asia
13 hours ago
- Nikkei Asia
Letter from Nikkei Asia's editor: Thailand and Cambodia step back from the brink
Hello from Tokyo. A ceasefire between Thailand and Cambodia, following an escalation in clashes that began on Thursday last week, took effect at 0:00 a.m. on Tuesday. At Nikkei Asia, we provided continuous coverage throughout the weekend via live blogs and breaking news updates. When reports emerged that Thailand had deployed F-16 fighter jets against Cambodia, our newsroom braced for the worst: the possibility of full-scale war between the two nations. Fortunately, the conflict -- which claimed more than 40 lives and displaced around 300,000 people -- was halted through mediation by Malaysia, the current chair of ASEAN. Although sporadic violence continued in places even after the ceasefire, the truce -- fragile as it may seem -- has taken hold. For a detailed look at the ceasefire and behind-the-scenes analysis of the two militaries, please read our coverage here. This episode has underscored the fragility of ties among some Southeast Asian nations. Had tensions between Thailand and Cambodia escalated further -- especially amid the ongoing civil war in Myanmar -- it would have delivered a serious blow to the region's economy and political stability. That the crisis was contained within the ASEAN framework is significant. Maintaining regional peace is essential for the bloc at a time when it faces challenges such as intensifying U.S.-China tensions and high tariffs from the Trump administration. Nikkei Asia has a major editorial bureau in Bangkok, and contributing writers in Cambodia helped drive our coverage of the recent events. As editor-in-chief, I am deeply concerned about rising tensions in the region. At the same time, I also take great pride in how our journalists continue to deliver timely, responsible and impartial reporting during crises -- one of our greatest strengths. I invite you to log in to Nikkei Asia and explore our reporting on the turbulent period that unfolded. Nikkei Forum in Melbourne Lastly, I have an announcement. On Aug. 18, Nikkei will host the Nikkei Forum in Melbourne, where experts and our Sydney-based reporters will explore the deepening business and economic ties between Japan and Australia. Online viewing is free, so please register to join the discussion! My suggested reads 1. Australia's auto market is one of the most competitive in the world, and Chinese makers want a bigger slice of it. Our reporter in Sydney visited the imposing off-road track known as Beer O'Clock Hill to see how companies like GWM aim to prove they have both the tech and toughness to muscle out rival brands. 2. Tourism-related stocks in Thailand -- from airlines to hotels and retailers -- have slumped amid falling foreign visitor numbers, particularly from China, making the country's equity market one of the region's worst performers. As our reporter in Bangkok notes, ongoing tensions with Cambodia, despite a ceasefire agreement, may further dampen travel demand and pressure the sector. 3. Faith-based businesses in Malaysia are staging events attracting thousands of people from across the region as demand rises for accessible spiritual inspiration. With tickets, sponsors, merch and vendor booths, these gatherings -- held for both Muslims and Christians -- could easily be mistaken for pop concerts or cultural festivals, just with a higher purpose. Wishing you a wonderful weekend! Akito Tanaka Sign up for the weekly Editor-in-chief's picks newsletter here. Follow us on LinkedIn and Instagram
