Japan Press Weekly

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2008 February 27 - March 4 [SOCIAL ISSUES]

Tokyo governor had entertained former management personnel who led ‘Ishihara Bank’ to failure

Akahata has learned that Tokyo Governor Ishihara Shintaro had wined and dined former management personnel of ShinGinko Tokyo, a bank established at his initiative, at an upscale Japanese restaurant in Tokyo. These people were recently forced to resign to take responsibility for the bank’s failure.

The Tokyo Metropolitan Government invested 100 billion yen in ShinGinko Tokyo and its board members included Nishi Yasumasa from Toyota Motor Corporation as Chief Executive Officer who resigned in July 2007.

Ishihara wined and dined Nishi and other board members at the restaurant on April 18, 2005, immediately after the opening of the bank.

The Tokyo Metropolitan Government disbursed 370,000 yen just for the governor’s entertainment allowance.

At the Tokyo Metropolitan Assembly plenary session on February 26, Ishihara shifted the blame for the bank’s failure onto the former management. Ishihara is the de facto “owner” of the bank, and he approved the bank’s board members, including Nishi, when the bank was established.

Suzuki Yasukichi, secretary general of the Citizen’s Ombudsmen group in Koto Ward, said, “How ridiculous it is for the governor to spend 370,000 on one night of wining and dining with former management personnel of ShinGinko Tokyo. Ishihara should return the tax money that was used for the bank as well as the money he used for entertaining former bank management personnel to the metropolitan government.”