NHK Chief Resigns Over Insider Trading Scandal

TOKYO, January 22: Genichi Hashimoto, the president of
NHK, has announced his intention to step down from his post a few days ahead of
the end of his three-year term, taking responsibility for an insider trading
scam involving some of the pubcaster’s employees.

"We damaged the trust of viewers,” Hashimoto is
quoted as saying at a press conference, according to wire reports. “As the head
of those who are responsible for operations, I took what happened seriously.
I've already informed the management committee about my intention to resign.”

NHK’s management committee is due to meet Thursday to
discuss the issue.

According to wire reports, two reporters and one director
have been investigated for suspected insider trading—they used information
about a restaurant chain, gathered for an exclusive news report, to buy shares
in the company before the segment went to air.

Hashimoto is just days away from the end of his three-year
term. He took over the post at the beginning of 2005 following the resignation
of Katsuji Ebisawa, who also stepped down after a variety of embezzlement
scandals involving employees. Hashimoto's first mandate was to restore public
trust in NHK.

—By Mansha Daswani