The past several months have witnessed two young Japanese entrepreneurs abruptly fall from the height of great success: one is Mr. Horie Takafumi, the former president of the Livedoor Co. who allegedly cheated his investors by window-dressing his company accounts to boost his company’s stock value and the other is Mr. Yoshiki Murakami, the former manager of an investment fund, who was arrested for violating Securities and Exchange Law.
… Mr. Hori and Mr. Murakami have aggressively sought business opportunities, seemingly taking advantage of loopholes in the law.
These two tycoons emerged when Japan was staggering from prolonged economic stagnation and rose to success and fame driven by their strong desire to pursue quick profits to the point where their obsession towards money-making triggered them to resort to alleged illegal dealings.
Changes in the business landscape worldwide brought by the Information Technology revolution has accelerated the pace of business and helped the free pursuit of wealth based on independent and free thinking, unbound by traditional philosophy. Facilitated by this trend, Mr. Hori and Mr. Murakami have aggressively sought business opportunities, seemingly taking advantage of loopholes in the law.
The worship of money being a drive for their success is clearly exemplified in the statements of Mr. Horie’s "There is nothing you can’t buy with money", and Mr. Murakami’s "What’s wrong with making lots of money?" While this philosophy resonated with many young fledgling businessmen who wished to follow their steps to climb the ladder of success, they were criticized for being too cold-hearted in their pursuit of self-interest.
We are now challenged to move beyond this scandal tinted society and restore a healthy market economy where the work ethic is valued and individuals’ hard work can be rewarded.