Takehisa Terada, 68, previously a senior managing director at Futaba Industrial, was arrested yesterday for his activities in China around 2007, the Okazaki City, Japan-based company said in a statement today.
“The arrest is regrettable and we greatly apologize for the issue,” Futaba Industrial said in the statement. The Aichi prefectural police department didn’t immediately respond to faxed queries on Terada’s arrest.
Terada resigned in March 2009 after giving “inappropriate financial support” to Business Design Laboratory, a Japanese company that researches and develops robots, according to Futaba.
Futaba Industrial slid as much as 1 percent to 398 yen in Tokyo trading, while the Nikkei 225 Stock Average declined 0.3 percent as of the midday break.
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