Ex-Head of Kimono Rental Firm Given Prison Term for Fraud

Society

Yokohama, Dec. 19 (Jiji Press)--The former president of Harenohi, a failed kimono rental service company that caused confusion in this year's Coming-of-Age Day celebrations in January, was sentenced Wednesday to two and a half years in prison over a loan fraud case.

Handing down the sentence to Yoichiro Shinozaki, 56, for defrauding banks of loans by window-dressing a financial statement, Hidetaka Watanabe, presiding judge at Yokohama District Court, said his act was "selfish and deserves strong denunciation."

He criticized Shinozaki for "far overstepping the boundary that should be safeguarded by a corporate manager."

Noting that Shinozaki's management decision based on an optimistic outlook caused tight finances at the company, Watanabe condemned Shinozaki for "trying to justify the window-dressing as something other managers more or less do as well."

The defense team had admitted the charge and was seeking a suspended sentence, saying that Shinozaki tried to keep Harenohi in business as he thought of clients for whom the company promised to provide kimono for use in the ceremonies.

[Copyright The Jiji Press, Ltd.]

Jiji Press