The former head of a now-bankrupt kimono rental firm was sentenced to 30 months in prison Wednesday for swindling banks of funds to keep his business running until its abrupt closure before Coming of Age Day earlier this year.
Yoichiro Shinozaki, 56, the former president of Harenohi, was convicted of defrauding two banks a total of around ¥65 million in September 2016 by presenting padded earnings reports.
The sudden closure of his business left some 2,000 women without formal attire for their once-in-a-lifetime event.