Financial Supervisory … here Japan

Funny or dangerous?

Last Friday, on the public website of the Japanese Financial Services Agency, the japanese supervisory body, some announcements appeared.

Teramento Corporation, a ONE-MAN-company with a capital of 7 (SEVEN!) EURO … yes, seven only, not million, not billion, not trillion announced, that it held 51% of “some” companies like Toyota, Sony, NTT, Mitsubishi and Fuji, a total value of around 20 TRILLION Yen, about 190 bln US$ …

Yes, interest rates are low, but still a bit outpriced for Teramento

Now, after the FSA investigated and menaces to put a 6k US$ fine on Teramento, it is said, that the founder gave orders to buy these shares to his brokerage, BUT neither opened an account with them nor put money with them.

His explications:

1. I thought, they bought the shares
2. I put the announcements on the site, but did not think it would be published.

One more proof, that a lot of things go extremly WRONG in today’s world!!!

Seemingly we face a long way back to reality

Tags: Japan, supervision

This entry was posted on Montag, Januar 28th, 2008 at 20:24 and is filed under FDAX. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.