Nippon Telegraph and Telephone Corp. said Monday its president and three other executives will take a pay cut for three months after the telecom giant was found to have paid for dinners for communications ministry officials, costing up to ¥60,480 ($553) per person, on 29 occasions.
In its report, NTT's investigation panel said that such meetings had resulted in the officials involved violating the code of ethics for public servants, and that the group "cannot escape criticism." However, the panel determined that the group had not sought favors from the ministry during the dinners.
NTT President Jun Sawada will take a pay cut of 40% for three months from July, while Vice President Akira Shimada will see a 20% cut for the same period. The two are among 16 executives within the NTT group to be reprimanded over the incidents.