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Japan Press Service Co., Ltd. is the only news agency providing information of progressive, democratic movements in Japan

BOJ governor makes 15 million yen through Murakami fund

Bank of Japan Governor Fukui Toshihiko, who invested 10 million yen in the controversial Murakami fund had 22.31 million yen in his working balance in the fund, amounting to 14.73 million yen in total profit as of the end of 2005.

His total profit consists of the investment profits of 12.31 million yen and a dividend of 2.42 million yen paid to Fukui in 2001. The revelation came on June 20 in documents he submitted to the Diet.

Despite admitting that he has undermined the public trust in the BOJ, Fukui on the same day said expressed his intention to remain in his post as central bank governor.

Japanese Communist Party Chair Shii Kazuo at a press conference held in the Diet Building on the same day said, "The public will not forgive Fukui's profit-making schemes."

Shii repeated his demand that Fukui resign as the BOJ governor, arguing, "The top official responsible for the financial policy of the nation invested in the unethical Murakami fund and continued putting the money into the fund even after taking office. His initial investment of 10 million yen increased to more than 20 million yen in his working balance. Thus, he was making easy money."
- Akahata, June 21, 2006