Chief Cabinet Secretary Hiromu Nonaka put indirect pressure Wednesday on former executives of the ailing Long-Term Credit Bank of Japan to return their lump-sum retirement grants.
“In its own restructuring plan, the LTCB said it will ask its former executives to return their retirement grants,” he told a news conference. “I would expect that each of the concerned individuals (will) humbly receive the message and act in a decent manner.”
He made the remarks when asked for his reaction to a media report that some of the former executives of the LTCB will return the grants. A total of 35 executives retired from the LTCB between fiscal 1992 and fiscal 1997, receiving some 4.3 billion yen in lump-sum retirement grants, according to a document disclosed to lawmakers Tuesday.
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