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Capitalism with Japanese characteristics

机译：具有日本特色的资本主义

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Takafumi horie is proof of the re-wards of failure-and of "Livin' on the edge", which is what he called his company until he bought an internet portal called livedoor and adopted its name. This 32-year-old's daring takeover bid earlier this year for the venerable media group Fu-jisankei Communications, via its radio subsidiary Nippon Broadcasting System, ended in defeat: Fuji found a white knight to hold a blocking slab of its shares and forced Mr Horie to retreat with only a small profit and a modest business deal between Fuji and livedoor. In July 2004 his bid for a baseball team, the Osaka Kintetsu Buffaloes, also failed. Yet the attendant publicity helped livedoor hugely: page views at its portal in June this year were more than six times higher than a year earlier, and the company has raised its advertising rates twice in less than six months. It remains a distant third in the internet portal business behind Yahoo! Japan and Rakuten, but its share price has stayed high despite stock dilution and the Fuji bid's failure, and its earnings multiple is higher than that of Yahoo! Japan.
机译：Takafumi horie证明了失败的回报以及“边缘的Livin”，这就是他所谓的公司，直到他购买了一个名为livedoor的互联网门户并采用了它的名字。这个今年32岁的年轻人大胆地收购了古老的媒体集团Fu-jisankei Communications，该公司通过其广播子公司Nippon Broadcasting System最终以失败告终：富士公司找到了一位白骑士，以持有其股份的大手笔并迫使他Horie退缩时只获得了微薄的利润，而且Fuji和livedoor之间的交易不多。 2004年7月，他对大阪近铁水牛城棒球队的申办也以失败告终。然而，随之而来的宣传极大地帮助了Livedoor：今年6月，其门户网站的页面浏览量比去年同期增长了六倍以上，并且该公司在不到六个月的时间内就提高了广告费率两次。在互联网门户业务中，它仍然仅次于Yahoo!。日本和乐天，但尽管股票稀释和富士竞购失败，其股价仍保持高位，其收益倍数高于雅虎！日本。

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