The Tokyo District Court on Friday ordered ex-Sogo Co. Chairman Hiroo Mizushima and 16 other former executives to pay about 6 billion yen to the department store chain for mismanagement in a series of shady and allegedly illegal business deals.
Sogo, now undergoing court-mandated rehabilitation, had demanded that Mizushima, 88, and 18 other former executives pay 11.25 billion yen in damages for losses incurred through the deals. The court ruled two of the 18 were not liable.
Mizushima's lawyers said the ruling was predictable but that they cannot accept it.