Takefuji Corp. dropped its lawsuit against a freelance journalist and a major magazine publisher Friday, withdrawing its demand for 200 million yen in damages over reporting of the company’s alleged collusion with police.

The consumer lender abandoned the lawsuit it filed with the Tokyo District Court against freelance journalist Yu Terasawa and Shueisha Inc., which carried an article by Terasawa on an alleged scandal involving Takefuji in a May edition of Weekly Playboy.

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