Yasuo Takei, Takefuji Corp.’s former chairman, who has admitted ordering subordinates to wiretap journalists, was released on 300 million yen bail Wednesday, his lawyers said.

On Tuesday, Takei pleaded guilty in the Tokyo District Court to the charges against him.

During the hearing, Takei offered apologies for his misdeeds and acknowledged he ordered employees of the consumer loan firm to wiretap the phones of two freelance journalists between December 2000 and February 2001 in violation of the Telecommunications Business Law.

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