75 Found to Have Received Gifts in Kansai Electric Scandal

Economy

Osaka, March 14 (Jiji Press)--A third-party panel said Saturday 75 executives and other people received gifts worth a total of 360 million yen in a high-profile scandal involving Kansai Electric Power Co. <9503>.

In the final version of its investigation report, the panel noted that the lavish distribution of cash and goods by the late Eiji Moriyama, former deputy mayor of Takahama, Fukui Prefecture, was intended to have the utility place orders for construction work with a company close to him.

The western Japan town hosts the Osaka-based company's Takahama nuclear power plant.

The panel, headed by former Prosecutor-General Keiichi Tadaki, submitted the report to Kansai Electric on Saturday. Later, the company said Executive Vice President Takashi Morimoto will succeed Shigeki Iwane as president.

Tadaki told a press conference in Osaka, western Japan, that Kansai Electric failed to end the bad relationship with Moriyama as it "completely lacked in a customer-oriented perspective and the corporate governance didn't work."

[Copyright The Jiji Press, Ltd.]

Jiji Press