Abe Denies Ordering Documents Doctored in Japan School Scandal
(Bloomberg) -- Japanese Prime Minister Shinzo Abe and his finance minister denied ordering officials to tamper with documents at the center of a scandal rocking his administration.
In response to questions in parliament on Wednesday, Abe said neither he nor his wife were involved in approving the sale of land at a heavy discount to a school with connections to ultra nationalists. Opposition parties are boycotting the debate since the administration won't allow the former finance ministry official who has been blamed for the scandal to testify.
QuickTake: The School Scandal Haunting Japan Prime Minister Abe
Opposition lawmakers are seeking the resignation of Finance Minister Taro Aso, a linchpin of the administration who's served as both finance chief and deputy prime minister since Abe returned to power in late 2012. Aso said Wednesday he'd do his utmost to restore public faith in his ministry, which this week conceded its involvement in the alteration of 14 papers, including the removal of Abe and Aso's names.
While Abe's ruling Liberal Democratic Party is unlikely to lose its grip on power, the scandal could hamper his bid to become Japan's longest-serving prime minister. The scandal also threatens to throw Abe's economic agenda off course. He told parliament last year that he'd resign if any link emerged between himself or his wife to the property deal.
Abe has repeatedly denied any involvement on his part, or that of his wife Akie, in the sale of land to Moritomo Gakuen, an educational foundation that subsequently filed for bankruptcy. The foundation ran a kindergarten in Osaka known for espousing elements of the prewar nationalist curriculum, as well as for its explicit backing of Abe, and had planned to use the land for an elementary school.
To contact the reporter on this story: Andy Sharp in Tokyo at asharp5@bloomberg.net.
To contact the editors responsible for this story: Brendan Scott at bscott66@bloomberg.net, Daniel Ten Kate
©2018 Bloomberg L.P.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
