Following a police investigation into his purchase of a supplement that might have broken the country’s stringent drug laws, Suntory Holdings CEO Takeshi Niinami, one of Japan’s most well-known businessmen, resigned from the beverage company.
Niinami, who frequently appeared at corporate Japan events at Davos and other international events, told Suntory he believed the supplement was legal, according to the company’s statement on Tuesday. He has advised several Japanese prime ministers.
“I didn’t know it was a prohibited supplement. In a report released on Tuesday evening, he claimed innocence in front of the Asahi newspaper. He added that if he did not step down, he said, the business would not be able to unite. Niinami could not be reached for comment right away.
Nobuhiro Torii, the company’s founder’s great-grandson Shinjiro Torii, announced in a press briefing that he would now be in full charge of the business.
Torii referred to Niinami as a “brave, determined leader who accomplished things,” and I sincerely respect him. It’s a real shame that we couldn’t continue as a team in that regard, which I also told him yesterday.
The powerful Keizai Doyukai business lobby is led by Niinami, who speaks English fluently. According to the Asahi report, he claimed he had no intention of leaving that position. Officials from the Keizai Doyukai were unavailable for comment right away.
On Wednesday afternoon, he is expected to give his regular press conference at the business lobby, in which he will provide more details about his resignation.
In addition to being outspoken, Niinami frequently expressed his opinions on how the Japanese economy should be run and how the central bank should act.
Investigation is continuing
According to the Tokyo Shimbun daily, Fukuoka prefecture police were looking into whether marijuana-containing supplements had been delivered to Niinami’s home, a case that has ties to a July arrest suspect.
Other Japanese media reported that the supplements allegedly contained THC, a psychoactive substance found in Japan. However, cannabis is legal as a distinct chemical compound, and there are products made in Japan made of it.
Niinami informed Suntory on August 22 that he was the subject of a police investigation, making the company the maker of whisky, beer, and other soft drinks like Orangina-branded soda. On September 1, he resigned.
Niinami, 66, took over Suntory as president in 2014 after purchasing US spirits company Beam for $ 16 billion, including debt, to significantly increase its revenue and profits.
No illegal drug use or possession has been confirmed, despite police questioning and searching Niinami’s Tokyo home. On the reports, there was no immediate access to a Fukuoka Police official.
Before becoming Suntory’s boss, the first person to lead the business from a non-familian background, Niinami was a graduate of Harvard Business School and previously held the position of chief executive of law enforcement company Lawson.
There are strict drug regulations in Japan. After an allegation that he had purchased illegal drugs, Japanese endoscope manufacturer Olympus Corp fired then-CEO Stefan Kaufmann, a German national.
Source: Aljazeera
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