The Supreme Court on Dec. 7 scrapped an earlier ruling that had found three former executives of the now-defunct Nippon Credit Bank guilty of window-dressing and ordered the Tokyo High Court to retry the case. The three had been convicted of submitting false financial statements for the business year ended March 31, 1998, by undervaluing bad loans and concealing an unabsorbed loss of ¥159.2 billion.

The top court’s decision highlights the confusion caused by a sudden change in the government’s policy toward banks.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.