Seems that Tokyo is not the only place where investors have more money than sense of fundamental values: according to the Wall Street Journal, shares in Nippon Telegraph & Telephone, the company that rewrote the hierarchy of superlatives for price-earnings ratios, have been sold illegally to foreign investors by Japanese broking houses operating in London.
ILLEGAL SALE OF NTT SHARES TO FOREIGN INVESTORS BY LONDON-BASED JAPANESE BROKING HOUSES
