National Aug 18, 2020
It has come to light that the power supplier secretly gave partial compensation to retired executives for pay cuts conducted due to poor business performance.
Business / Corporate Aug 14, 2020
Toshiba shareholder 3D Investment wants independent probe into AGM vote
A major investor in Toshiba Corp. has called for a third-party investigation into the conglomerate's annual shareholders meeting, saying its vote was not fully recognized in a potential breach of governance. The demand from Singapore-based 3D Investment Partners is likely to sharpen scrutiny of the ...
Business / Corporate Jun 26, 2020
Kepco slammed by shareholders over culture that led to gift scandal
The scandal could have been prevented if the firm had disclosed management information fairly, said a lawyer representing Osaka Municipal Government.
National Jun 9, 2020
Japan to launch probe into murky coronavirus relief deal linked to Dentsu
The Service Design Engineering Council, which was contracted to implement the program for ¥76.9 billion, outsourced the task to the advertising agency for ¥74.9 billion.
Business Apr 28, 2020
The Japan Post Holdings Co. group has revoked the insurance-selling certificates of 75 post office workers for their improper sales of Japan Post Insurance Co. products, while reprimanding two others. The insurance sellers encouraged customers to buy insurance contracts by giving them false explanations in ...
Business Mar 25, 2020
Japan Post gets proposal to cut 10,000 jobs amid falling revenue
Japan Post Holdings Co. has received a proposal by a group company to cut 10,000 jobs, as the scandal-hit company seeks to offset deteriorating earnings in the financial business by slashing labor costs, a source close to the matter said Monday. Japan Post Bank Co., ...
Business / Corporate Feb 28, 2020
Over 1,400 Japan Post workers improperly sold insurance products, probe finds
The Japan Post Holdings Co. group said Thursday it had confirmed Japan Post Insurance Co. products were sold improperly by 1,447 post office workers. An in-house investigation conducted through Feb. 19 also found sales clerks committed a total of 1,761 violations of the law or ...
Business / Corporate Feb 15, 2020
In fresh scandal for Toshiba, subsidiary found to have booked ¥43.5 billion in fictitious sales
Toshiba Corp. said Friday that a subsidiary booked fictitious sales of ¥43.5 billion in 26 transactions recorded only on paper. The scandal may again throw Toshiba into a crisis similar to its massive accounting fraud in 2015. The subsidiary in question is Toshiba IT-Services Corp. based ...
Business / Corporate Feb 1, 2020
Japan Post to probe more insurance contracts as sales scandal grows
Japan Post Holdings Co. says it will look into 220,000 more insurance contracts — signed by around 60,000 customers — that are suspected of being part of a widening scandal involving improper sales. In an announcement Friday, the former state-owned postal group also said that ...
Business Jan 30, 2020
Japan Post Insurance misconduct may have hit 60,000 more customers
Improper sales practices for Japan Post Insurance Co. products may have disadvantaged 60,000 more customers than previously known, sources have said. In August, the Japan Post Holdings Co. group started to investigate 183,000 Kampo-brand insurance contracts involving 156,000 customers who had possibly been affected by ...
Business Jan 22, 2020
Germany launches raids over suspected Mitsubishi diesel emissions fraud
German prosecutors Tuesday said they were searching business premises across the country as part of an investigation into suspected diesel emissions cheating involving Mitsubishi cars.
National Jan 20, 2020
WWF voices 'deep concern' over purchasing standards set by Tokyo committee for 2020 Olympic Games
The World Wildlife Fund expressed concern Monday over standards set for commodity procurement by the Tokyo Organising Committee of the Olympic and Paralympic Games, saying that they are "inappropriate." In a statement, the WWF said it was "deeply concerned" that the organizing committee produced "protocols ...