Niinami Resigns as Keizai Doyukai Chief

Tokyo, Sept. 30 (Jiji Press)–The Japan Association of Corporate Executives, or Keizai Doyukai, said Tuesday that it has accepted the resignation of its chairman, Takeshi Niinami. Until Niinami’s successor is appointed, the activities of the association’s chief will be undertaken by Senior Vice Chairman Mutsuo Iwai. Niinami and Iwai attended a press conference in Tokyo on the day. Iwai revealed that the association’s board of directors was divided over Niinami’s treatment when they met earlier in the day. “It was a situation where a forcible vote on the matter could have caused a division in the whole association,” he said. Niinami offered his resignation after learning of the situation. He told the press conference that the association being divided would be “really bad for Japan.” In early September, Niinami resigned as chairman of Japanese beverage group Suntory Holdings Ltd. after police began investigating allegations related to health supplements he had purchased. He also suspended his activities as chairman of Keizai Doyukai, leaving the decision regarding his position to the association. Keizai Doyukai established an ethics panel to determine whether it would be appropriate for Niinami to continue serving as its chairman. By Tuesday, the panel compiled an opinion recommending Niinami’s resignation and presented it to the association’s board. END [Copyright The Jiji Press, Ltd.]