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Recruit was a real estate and telecommunications
company of Japan.
The company became famous with the recruit scandal.
Recruit scandal
Recruit sold a lot of shares of Cosmos, a subsidary, to politicians
before being listed in the stock exchange. The company sold it below the
IPO price, so many politicians earned a lot of money in 1986 when the
company was listed.
The scandal broke in 1989.
Miyazawa Kiichi, then Minister of finance and
Takeshita Noboru, then Prime Minister, had to resign.
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