Recruit is a human resources and classifieds company based in Tokyo.
Following the public offering, Cosmos's share price skyrocketed, and the individuals involved in the scheme saw average profits of ¥66 million each.
Although only seventeen members of the Diet were involved in the insider trading, another thirty were later found to have received special favors from Recruit.
As a result, Takeshita's cabinet was forced to resign, although some of its members returned to political prominence later (including future prime ministers Kiichi Miyazawa and Keizō Obuchi).
It is often said to be one of the main causes of Morihiro Hosokawa's opposition party victory in 1993, which briefly interrupted the LDP's otherwise continuous reign over Japan.