The president of scandal-hit AIJ Investment Co., Kazuhiko Asakawa, admitted Tuesday in the Diet that he had covered losses in corporate pension funds and promised false returns to lure clients.

Making his first public appearance since the firm’s massive losses of pension funds came to light last month, Asakawa told a Diet committee he didn’t initially intend to report padded figures for AIJ’s corporate pension fund assets.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

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.