OSAKA (Kyodo) Newly elected Democratic Party of Japan lawmaker Yoshihiko Watanabe said Saturday he is undergoing bankruptcy proceedings and has ¥140 million in debt.
Watanabe, 53, said he did not report his financial troubles to DPJ headquarters before running in the Aug. 30 House of Representatives election because he feared "it could have negatively affected my listing as a candidate in the proportional representation section."
He sought court-led bankruptcy in March after assuming the debts on behalf of his late father and an acquaintance, Watanabe told a press conference in Osaka.
Watanabe won his first Diet seat as a listed candidate for the Kinki proportional representation block, after twice failing to be elected to the House of Councilors.
A person involved in bankruptcy proceedings is not disqualified from running for election, according to the board of elections of the Osaka Prefectural Government.