"It's like the arms industry ... it's not a crime to build and sell them, " Negi said.

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"With the arrival of spam in 2001 and 2002, the big difference was it was commercial malware, " Negi said.

CNN: Twitter message could be cyber criminal at work

"When the company was set up, we were seeing two or three new viruses a week, " said Mahendra Negi, chief financial officer of Tokyo-based antivirus maker Trend Micro.

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Mr Negi has found 14 companies which would have more cash in the bank, after repaying their debts, than they could be bought for at today's share prices.

ECONOMIST: Japanese shares

At least 500, 000 Japanese small businesses, and many more overseas (Shigeta already has entered China, Hong Kong and Korea), are potential clients, says Merrill Lynch Japan Vice President Mahendra Negi.

FORBES: The Web Phone Evangelist

That, says Mahendra Negi, chief financial officer of Trend Micro, a Tokyo-based computer-virus company, is bound to be a low-margin business, as all it really involves is translation from English into Japanese.

ECONOMIST: Software in Japan