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Mitsui & Co. President Shinjiro Shimizu announced Wednesday that he and two other executives of the major trading house will take voluntary pay cuts of 20 percent for three months to assume responsibility for a scandal involving bids for a power plant project on Kunashiri Island, off Hokkaido.

In addition to Shimizu, Chairman Shigeji Ueshima and a vice president will take home smaller pay checks, he said.

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