Moody’s Investors Service Inc. said Friday it has placed Nippon Meat Packers Inc.’s A3 senior unsecured long-term debt rating under review for possible downgrade, following the mislabeling scandal at the meat processor’s subsidiary, Nippon Food Inc.
Nippon Food, a wholly owned subsidiary of Nippon Meat Packers, admitted Thursday it had passed off imported beef as domestic to receive government subsidies under a buy-back program set up after mad cow disease hit Japan.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.