Library

"Farewell, Japan Corporation" In November 1997, Yamaichi Securities, one of Japan's four major securities companies, suddenly announced that it was "independently abolishing the industry." Nearly 10,000 employees lost their jobs overnight, causing an uproar in Japan and even the international financial community. The off-book debt of 260 billion yen was the direct cause of its collapse. The goodwill of a century-old company was destroyed, and the Ministry of Finance, the financial agency of the Japanese central government, also refused to provide assistance. How did such a large-scale illegal debt arise? When did it occur? Whose decision was it? How was it concealed? When everyone at Shanyi Securities was in danger and eager to escape from the sinking ship, 12 employees persisted until the end, withstood pressure from all parties, launched an unprecedented internal investigation of the company, and exposed the illegal facts of the top management for six years. They are called Shan Yi's "palace troops".