¥246.1 billion overstated via fictitious transactions

KDDI President and CEO Hiromichi Matsuda (left) bows in apology during a news conference in Tokyo on Tuesday
Threads
Email
Print
Bookmark story
Copy link
Japanese telecommunications company KDDI said in a report Tuesday that two related companies overstated sales by a total of ¥246.1 billion ($1.55 billion) via fictitious transactions through December of last year.The report on an internal probe on the scandal involving its internet service subsidiary Biglobe and G-Plan, a Biglobe affiliate, also said that ¥32.9 billion had flowed out to advertisement agencies not affiliated with the KDDI group.Eight KDDI executives, including President and CEO Hiromichi Matsuda, will return portions of their executive remuneration
At Biglobe and G-Plan, six executives, including their presidents, resigned, while two employees who were at the center of the misconduct were dismissed on disciplinary grounds.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.By subscribing, you can help us get the story right.

SUBSCRIBE NOW
With your current subscription plan you can comment on stories
However, before writing your first comment, please create a display name
in the Profile section of your subscriber account page.

Your subscription plan doesn't allow commenting
Former mayor of Ito indicted after allegedly falsifying academic record
ADHD medication in short supply in Japan as demand soars
JMA warns of potential tremors throughout the week after magnitude 5.0 quake
Japan’s 'counterstrike capability' takes shape with missile deployments
Yemen's Houthis enter Iran war with attacks on Israel, as U.S
What happens when Japan curates its aesthetic for the world?

With the end of 3G, Japan's beloved flip phones go dark
Japan to tighten requirements for naturalization starting April 1
Beijing row highlights need for Japan to reduce cleantech dependence on China
Kabukicho: Tokyo’s ‘stadium of desire’
Imperial Hotel, Kyoto: Where hospitality traditions meet
Sponsored contents planned and edited by JT Media Enterprise Division.

Japan's department store duty-free sales rebound as China-driven slump eases
4 hours ago
Japanese companies welcome new employees as fiscal year starts
4 hours ago
Japan’s international flights to get pricier due to hike in fuel surcharge
4 hours ago
LDP divided over move to criminalize desecration of Japan's flag, sought by JIP
5 hours ago
World doesn't need crisis over Taiwan, opposition leader says before China trip
5 hours ago