Industry: Corruption rife in Japanese firms

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The Independent Online
Corruption in Japanese corporations is widespread, according to a new survey. The report, which has been compiled by the Corporate Auditors' Association of Japan and which covers 1,850 Japanese corporations, found that at least one-fifth of those firms surveyed had been involved in at least one scandal or improper business practices over the past 10 years.

Breaking the anti-monopoly law, and criminal cases which included bribery and bid-rigging were among the most common offences.

Less than 65 per cent of the companies which were approached, including top-listed companies and life insurers, said the survey. The report will sit awkwardly on the desk of the Japanese prime minister, Ryutaro Hashimoto, who has recently called for higher ethical standards in business.