Former Environment Minister Goshi Hosono borrowed ¥50 million ($455,000) from a securities firm during the general election campaign last October without initially reporting the funds, sources close to the firm said Wednesday.

Funds for election campaigning must be reported to the election administration commission.

The seven-times elected 46-year-old lawmaker later disclosed the fact that he had received ¥50 million in a financial statement showing he borrowed the funds.