Tax arrest in Tokyo threatens to spawn political scandal

Article Abstract:

The arrest of Japanese businessman Junichi Izui on charges of tax evasion has opened the new Japanese government to a possible scandal as the oil wholesaler had given money to two of Prime Minister Ryutaro Hashimoto's cabinet ministers. Although claiming that the donations were legal, Health and Welfare Minister Junichiro Koizumi and Finance Minister Hiroshi Mitsuzuka admitted having received money from the oil executive. Izui is also well-connected with Japanese bureaucrats and businessmen. Hashimoto's bold economic reform proposals stand to be jeopardized by the developments.

Investigations, Ethical aspects, Political corruption, Cabinet officers, Cabinet officials, Koizumi, Junichiro, Izui, Junichi, Mitsuzuka, Hiroshi

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Japan regulators manage to contain run on Cosmo

Article Abstract:

Cosmo Credit Corp. almost succumbed to a two-day bank run that totaled over 70 billion Japanese yen. The savings bank's demise was averted by the timely intervention of Japanese bank regulators who infused emergency financing to Cosmo Credit. Bank regulators also established several depositor consultation centers throughout Tokyo, Japan, to convince depositors not to withdraw their funds from Cosmo Credit.

Savings & Loan Assns, Savings Institutions, Finance, Savings and loan associations, Cosmo Credit Corp.

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Election results in Japan reflect shift to the right

Article Abstract:

A growing support for conservatives was evident in the results of the Jul. 23, 1995 elections in Japan, with most of the seats at stake won by the competing Liberal Democratic Party and the New Frontier Party. The two parties are widely perceived as conservative and are closely associated with business and government. The Socialist Party took a beating when it won only 16 of the 22 seats it aimed to win.

Political activity, Elections, Liberal Democratic Party (Japan), Socialist Party (Japan)

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