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Lawyers apply for release of ex-Livedoor head Horie, others+(Japan Economic Newswire Via Thomson Dialog NewsEdge)TOKYO, March 15_(Kyodo) _ Lawyers for former Livedoor President Takafumi Horie and four others have applied for their release on bail to the Tokyo District Court following their indictment over securities law violations Tuesday, informed sources said Wednesday. The court will hear prosecutors' opinions before deciding on whether to approve the request. Horie and four current and former Livedoor executives were indicted Tuesday on charges of falsifying the company's financial report for the year through September 2004. The five, and the company itself, are accused of inflating Livedoor's financial figures so as to make it appear that Livedoor had a group pretax profit of 5 billion yen in the period though it actually had a pretax loss of some 300 million yen. The four others indicted with Horie on charges of violating the Securities and Exchange Law are Livedoor Director Fumito Kumagai, former Livedoor Chief Financial Officer Ryoji Miyauchi, former Livedoor Director and Livedoor Marketing Co. President Fumito Okamoto, and former Livedoor Operating Officer and Livedoor Finance Co. President Osanari Nakamura. |