Twelve government-run funds possess assets more than 100 times the size of the projects they have undertaken, according to a recent study by the Board of Audit.
The study covering the financial assets of 70 funds and the projects they have undertaken over the last three years indicates that a number of publicly funded projects have been implemented inappropriately, according to sources with access to the results.
Prompted by the discovery of these "hidden assets," the Board of Audit has demanded that one fund operating under the Ministry of Economy, Trade and Industry return about ¥140 million.