The fund, widely known as the Murakami Fund, is a major shareholder in more than 30 listed firms.

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The former trade ministry official has also said he will resign from his fund, widely known as the Murakami Fund.

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Take the corporate scandals: neither livedoor nor the Murakami Fund represents chicanery or economic distortion on anything approaching the scale of America's Enron or WorldCom earlier this decade, they are far smaller entities.

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