Kansai Electric's Iwane under Pressure to Resign as Industry Group Chief

Economy

Tokyo, Sept. 30 (Jiji Press)--Shigeki Iwane, president of Kansai Electric Power Co. <9503>, has been under pressure to resign as chairman of the Federation of Electric Power Companies of Japan, an industry group, due to a money scandal involving himself and other company executives, informed sources said Monday.

Kansai Electric said Friday that 20 executives, including Iwane and Chairman Makoto Yagi, received money and goods worth 320 million yen from a late former deputy mayor of Takahama, Fukui Prefecture, central Japan. The town hosts the company's Takahama nuclear plant.

The scandal puts Iwane under pressure to take responsibility to avert a negative impact on the Japanese power industry's efforts to promote nuclear energy, the sources said.

But a Kansai Electric executive said Monday that Iwane will not be replaced as the federation's chairman. The federation said that no decision has been made regarding the post of its chairman.

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