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January 21, 2008

Japanese TV chief quits over ‘insider trading’ probe

By paulmcnally

The president of Japanese public-service broadcaster NHK has resigned after three of his staff were investigated over claims of insider trading.

According to Reuters, Genichi Hashimoto told reporters that two other managing directors are also set to tender their resignation.

NHK is facing a backlash from viewers, who are threatening to stop paying their licence fee, after three business journalists were accused of buying shares in a restaurant chain shortly before NHK broadcast a story which caused the share price to climb 13 per cent.

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