ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Cheated Japanese developer missed multiple warnings in land fraud

Internal report pins 'ethical responsibility' on management

Sekisui House was swindled out of 6.3 billion yen in a deal to buy this Tokyo property.

OSAKA -- Sekisui House disregarded a series of warnings about a suspicious land deal last year and put too much trust in documents furnished by the fraudsters, the developer said in a report released Tuesday.

The fraud led to a management reshuffle in January. The move, which the company initially said was meant to facilitate a smooth "change of generation," was later revealed to be a boardroom coup.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more