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Politics

Tokyo finds ouster of fund chief harder than expected

JIC head intends to stay on the job, leaving economy ministry few options

Minister of Economy, Trade and Industry Hiroshige Seko, left, and JIC President Masaaki Tanaka.
Minister of Economy, Trade and Industry Hiroshige Seko, left, and JIC President Masaaki Tanaka.

TOKYO -- The Ministry of Economy, Trade and Industry finds itself confronting the messy task of booting the head of a newly revamped public-private innovation fund, who has withstood pressure to step down over disagreements on business management.

But because of the way the Japan Investment Corp. has been set up, it could take months to eject President Masaaki Tanaka, all the while undermining the original goals of the quasi-sovereign wealth fund.

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