Takemune Kimura, president of Mitsubishi Motors Corp., said Thursday that he and Chairman Hirokazu Nakamura will quit their posts to take the blame for the recent arrest of four MMC executives suspected of illegally paying off "sokaiya" corporate extortionists.
At a news conference, Kimura said it is necessary for management to take responsibility for the havoc linked to the two sokaiya. "As someone who is responsible for the firm's management, I feel that I must take responsibility," Kimura said. "Although the matter must be approved by the company's board, I have made up my mind to resign." Nakamura told Kimura he would follow suit, the president said.
The company is scheduled to hold its board meeting Nov. 7 to approve half-year financial results for the 1997 business year, but their resignations will not be on the agenda at the board meeting, Kimura said. He said the issue would be taken up at a board meeting after their successors are found.