Dai-Ichi Kangyo Bank President Katsuyuki Sugita said July 30 his bank solemnly accepts the administrative punishment meted out for its payoffs and dubious loans to a “sokaiya” racketeer.

Repeating apologies to the bank’s shareholders, clients and depositors, he pledged to eliminate all dubious transactions, reinforce internal controls, and clarify responsibilities and authority within the bank. “We will overhaul our organization and make utmost efforts to establish a transparent management system to prevent the recurrence of those scandals so that we can regain public confidence as soon as possible,” he told a news conference.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.