JAPAN: Former Sogo Chief Ordered To Pay Damages To Company
A court has ordered the former head of Sogo Co to pay 6.02bn yen ($54.2m) in damages to the company. The Tokyo District Court ruled that Hiroo Mizushima, former chairman of Sogo, and other managers had failed in their duties, resulting in losses to the retailer. The charges involve illegal transactions with an affiliated water equipment manufacturer, loans to a company in Turkey and illegal dividend payments.
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