Hitachi’s consumer credit unit caught up in Mizuho yakuza loan scandal

JIJI

Hitachi Capital Corp. played a role in Mizuho Bank’s lending to mobsters and other underworld groups, informed sources said Saturday.

Mizuho carried out one gang-related loan transaction via Hitachi Capital, the consumer credit unit of Hitachi Ltd., the sources said.

The discovery of Hitachi Capital’s role came after Mizuho late last month unveiled disciplinary steps against dozens of executives over loans to yakuza syndicates and other “anti-social” forces through consumer Orient Corp., the finance arm of the Mizuho Financial Group Inc. group.

Hitachi Capital’s involvement came to light when Mizuho Bank checked loans extended through the company this summer after the gang-related transactions involving Orient were revealed, the sources said.

Mizuho will examine whether there are other similar transactions with Hitachi Capital while asking the company to repay such loans, the sources said.