The Tokyo Stock Exchange has begun hearings over possible violations of the bourse's information disclosure rules by Nippon Meat Packers Inc. in relation to a subsidiary's abuse of a government beef-buyback program, TSE officials said Friday.
The TSE believes Nippon Meat, better known as Nippon Ham, may have distributed releases to investors denying any wrongdoing involving its subsidiary, Nippon Food Inc., even after it learned of the deception in February in an internal investigation, they said.
The company is suspected of distributing the releases after reporting its 2001 business year earnings results in May.