
I think it looks like "Kjonami" myself.

That original Konami logo actually reminds me quite a bit of the Nintendo logo.
Perhaps that's why it was changed. They thought it looked a little
too close to Nintendo's logo and feared that Nintendo would go after their asses for it. In my opinion, it was for the better. This first logo looks too dull!
As for the logo change, yes, I am
very disappointed that they had to shelf the original logo in favor of that new boring one. Konami's argument for this is that they want to improve themselves for the future and wanted a new logo to reflect upon their improvement. In other words, it's a business decision (more like business politics) for them. They thought that keeping the old logo with the waves would make them look too "old-fashioned". I call BS on this as Capcom has never changed their logo ever since they went into the video game development business back in the 80's and are still great today as they were back then.
What would happen if Hudson felt the need to eliminate the bee from their logo in order to make themselves more "improved"? Food for thought.