Tottori Gas announced that it had dismissed its president and confirmed misappropriation and unauthorized transfers. Approximately ¥310 million is alleged to have been misappropriated, while approximately ¥1.08 billion was reportedly transferred from a corporate bank account to a personal account. The new president is the president’s older sister, Sato Yoko (佐藤 陽子).
At a press conference, Tottori Gas disclosed that it had confirmed misconduct, including misappropriation and unauthorized transfers by its former president, Kojima Taichi (児嶋 太一), and had dismissed him as president. The company said the misappropriation amounted to at least approximately ¥310 million and that it was considering filing a criminal complaint to recover the losses.
According to the company, the misappropriation had been taking place for 5 to 6 years and included purchases of luxury goods using a corporate card. In addition, approximately ¥1.08 billion was reportedly transferred from a corporate bank account to a personal account without approval from the board of directors.
After an internal investigation confirmed the misappropriation, the board of directors on 14 September approved a motion to dismiss Kojima Taichi (児嶋 太一) as president, and his dismissal and the appointment of a new president were decided. Kojima Taichi (児嶋 太一) admitted to the misappropriation and claimed that most of the approximately ¥1.08 billion transferred had already been repaid.
The new president, his older sister Sato Yoko (佐藤 陽子), said she had assumed the position to rebuild the company, arguing that it had been treated as personal property to an excessive degree.