Until recently, many of Japan's medical and bioethical communities had ignored the issue of conflicts of interest (CIs). This is no longer the case. Discussion on the economic and ethical problems defined by CIs is now apparent in academic, political, and even industrial spheres. In June 2004, this debate was sparked by a scandal involving AnGes MG, Inc., a bioventure company set up by a faculty member at Osaka University Graduate School of Medicine. AnGes MG developed a gene therapy using the Hepatic Growth Factor for obstructive blood vessel disease. Japanese newspapers reported that “several physicians involved with clinical trials for AnGes obtained unlisted shares of stock. One physician allegedly received 32 million yen (U.S. $320,000) after AnGes MG went public on the ‘Mothers’ stock exchange” (a market for high-growth and emerging stocks).