OSAKA -- The Osaka District Court on Wednesday ordered a former president of the now-defunct trading house Itoman Corp. to pay 2 billion yen in damages to the trading firm that absorbed Itoman.
Sumikin Bussan Corp., based in Osaka, won the damages against Yoshihiko Kawamura, 77.
Sumikin charged that Kawamura was responsible for more than 2 billion yen Itoman lost on loans, worth 20 billion yen, extended in April and May 1990 to the golf course developer Satsuma Kanko in Kagoshima Prefecture, which later failed. Kawamura was then president of Itoman, also based in Osaka.