• Kyodo

  • SHARE

Prosecutors are poised to question former Daio Paper Corp. Chairman Mototaka Ikawa and launch a full investigation as early as next week over more than ¥10 billion in dubious loans he took out from Daio group firms, sources said.

Tokyo prosecutors have already grilled executives of the subsidiaries and others involved, and are believed nearing the final stages of their probe, the sources said Thursday, adding Daio, which has been moved to the Tokyo Stock Exchange’s watch list for possible delisting, is expected to file a criminal complaint against Ikawa on suspicion of aggravated breach of trust.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW