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The Supreme Court on Monday scrapped an earlier ruling that found three former executives of the defunct Nippon Credit Bank guilty over alleged window-dressing and sent the case back to a lower court for retrial.

Former NCB Chairman Hiroshi Kubota, 78, former NCB President Shigeoki Togo, 66, and former NCB Vice President Tadao Iwaki, 71, were convicted of submitting undervalued bad loans and false financial statements in conspiracy to conceal ¥159.2 billion in bad loans.

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