Scandal-tainted Kokudo Corp. has decided to sell the Seibu Lions baseball team for more than 20 billion yen, sources said Saturday.
The development came as the financial profile of the operator of the Prince Hotel chain and various sports facilities is deteriorating due to a recent plunge in group firm Seibu Railway Co. shares, the sources said.
The plunge is the result of a scandal in which Kokudo provided false information about its stake in the railroad operator.