The company opens its 500th Hit Shop. Shigeta has grown the business aggressively over the last 10 years, and Hikari is poised to become the country's largest retailer of telecom services and wireless handsets. Analysts and investors take note of Hikari. Adding to the buzz, the company launches a venture capital arm that quickly becomes one of the major players in Japan's internet sector. Hikari is soon viewed as a leader in Japan's New Economy.
Few analysts note the sharp increase in debt.
Pending IPOs in Hikari's venture portfolio divert attention from the dramatic rise in leverage. Analysts argue that potential synergies between Hikari's online and offline services deserve significant premiums. Hikari is now the second largest internet company in Asia. Hikari shares suffer a sharp correction. Multiple rumors surface in the market, including investigations by tax authorities, insider trading and dissatisfaction of key customers.