The Tokyo High Court on Friday upheld the guilty verdict against former Livedoor Co. executive Ryoji Miyauchi for falsifying financial statements but reduced his prison sentence to 14 months.
Miyauchi, the former Livedoor chief financial officer and closest aide to company founder Takafumi Horie, was previously found guilty and sentenced to 20 months by a district court. Horie, who was sentenced by the high court to 2 1/2 years in February, pleaded innocent and is appealing the ruling to the Supreme Court.
Miyauchi, 41, who pleaded guilty to securities and exchange law violations, had sought a suspension of the 20 months handed down by the Tokyo District Court in March 2007.