Recruit scandal

The Recruit scandal (Japaneseリクルート 事件, rikurūto jiken ) was next to the Lockheed scandal the biggest corruption scandal in postwar Japan.

The company Recruit - Cosmos specializes in placement of young professionals and makes, among other companies advertising in magazines. Their owner, Hiromasa Ezoe has 1984 and 1986, just before converting his company, many politicians (such as the future Prime Minister Yoshiro Mori ), members of management boards of large companies, professors and officials overwritten large blocks of shares in a corporation or sold at preferential prices. A complete pre-finance the share purchase took over in many cases the finance company First Finance Co. of the Recruit Group.

In return ensured, for example, some politicians that Recruit - Cosmos could distribute its magazines at universities and was able to purchase certain property at a special price. With the beginning of the listing of the value of the overridden papers increased, so that the parties have been able to sell them immediately and with great profit.

Under the pressure of public outrage some of the gifted politicians, including the then Prime Minister Takeshita Noboru had to resign. The scandal drew political reforms.

Today Recruit is back in business.