Following the spreading corporate scandal over illegal payoffs to "sokaiya" corporate extortionists, the nation's five electronics and information-related industries Monday jointly called for member companies to immediately cut all ties with such racketeers.
To cope with sokaiya-related issues, 542 executives from 311 companies who met in Tokyo decided to establish a committee of top management staffers from the five groups' member firms.
The presidents of the companies so far found to be involved in the payoffs, including Mitsubishi Electric Corp. and Hitachi Ltd., were among the participants. The five groups are the Japan Electrical Manufacturers' Association, Electronic Industries Association of Japan, Japan Electronic Industry Development Association, Communications Industry Association of Japan and Japan Information Service Industry Association.
The industry groups' member firms reportedly total about 1,400. They also adopted a set of corporate attitude policies to which each member firm must follow.
The policies state that companies should resolutely confront any group that threatens public order or safety, and if any firm becomes embroiled in a scandal, top management should strictly deal with the issue.