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Sanrio shares ease on allegations of improper executive compensation
Sanrio Co Ltd <8136> traded lower. After the close on the 16th, the company announced that a managing director is suspected of receiving improper compensation from a group subsidiary. The matter emerged following an internal investigation triggered by a whistleblower report. The executive is suspected of receiving additional compensation totaling several hundred million yen over multiple years. In response, Sanrio launched a probe with the support of independent experts and stated it will promptly disclose any new material facts as they emerge.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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