• Kyodo

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A former chief of Japan’s most powerful business lobby group is expected to become the new chairman of Kansai Electric Power Co., sources close to the matter said Thursday, as the firm aims to improve governance following a corruption scandal.

Sadayuki Sakakibara, 76, was previously chairman of chemical fiber-maker Toray Industries Inc. and from 2014 to 2018 was the head of the Japan Business Federation, widely known as Keidanren. He is set to assume his new position at Kansai Electric following approval at a general stockholders’ meeting in June.

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