OSAKA -- A citizens' group representing individual investors on Thursday called on Sogo Co. to seek damages from its former executives to recover losses stemming from irrecoverable loans to fur dealers, the group said.
Sogo is currently under court protection from creditors.
The Osaka-based nonprofit group, called Kabunushi (Shareholder) Ombudsman, said Sogo lent some 5.6 billion yen to six fur dealers between 1994 and 1995, allegedly knowing they were in such dire financial problems that they were unlikely to be able to repay the loans.