The land ministry plans to slap a business suspension order on Tateru Inc. over data manipulation at the apartment management firm, it has been learned.
The order will be issued based on the residential land and building business law, after the ministry’s Kanto Regional Development Bureau conducts a hearing with the Tokyo-based company Friday, informed sources said.
Details of the order, including the duration and the scope of operations subject to suspension, will be decided later.
Around between July 2015 and July 2018, Tateru committed wrongdoing such as overstating the amounts of customers’ deposits to make it easier for them to receive loans from financial institutions in a total of 336 cases of residential land transactions in Tokyo and nine prefectures, according to the ministry.
The nine prefectures are Chiba, Saitama, Kanagawa, Aichi, Kyoto, Osaka, Hyogo, Fukuoka and Kumamoto.
A total of 31 Tateru employees were involved in the irregularities, according to a report released last December by an investigation panel comprising outside lawyers.
Tateru is listed on the first section of the Tokyo Stock Exchange.