A Cell Phone Warrior Licks His Wounds

Two months ago, Yasumitsu Shigeta, president of Hikari Tsushin Inc., Japan's largest cell-phone retailer and a key Internet investor, reigned as one of the kings of New Japan. Then, in late March, Hikari reported an operating loss. The news shocked investors, who had been told by Shigeta to expect a profit. Hikari also was dogged by revelations that its franchises, eager to book commissions, padded results.

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