Former Futaba Industrial Executive Arrested for China BriberyAnna Mukai
Futaba Industrial Co., a supplier of auto exhaust systems to Toyota Motor Corp., said a former executive was arrested by Japanese police for bribing a Chinese government official.
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.
The Japanese company makes car mufflers and fuel tanks, and has six production facilities in China, according to its website.
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.