Panel Blames 5 Kansai Electric Former Execs over Gift Scandal

Economy

Osaka, June 8 (Jiji Press)--An independent investigation committee set up by Kansai Electric Power Co. <9503> released Monday a probe report blaming former five executives over a high-profile gift scandal.

The five, including former Chairman Makoto Yagi, overlooked the problem in which many officials received cash and other gifts from an influential person, failing to fulfill their duties, the committee said in the report.

The committee, led by former Supreme Court Justice Chiharu Saiguchi, concluded that the five caused damages of at least 1.3 billion yen to Kansai Electric related to the scandal.

Based on the report, Kansai Electric will decide by June 17 whether to file a lawsuit against the five, also including former President Shigeki Iwane, former Executive Vice President Hideki Toyomatsu, former board member Ryohei Shirai and former Chairman Shosuke Mori.

In the scandal, 75 Kansai Electric officials received a total of 360 million yen in cash and goods from the late Eiji Moriyama, former deputy mayor of Takahama, Fukui Prefecture, central Japan, according to a final report released in March by a third-party panel. The town hosts the company’s Takahama nuclear power plant.

[Copyright The Jiji Press, Ltd.]

Jiji Press