OSAKA -- The Osaka High Court on Tuesday upheld prison sentences of up to 10 years for two executives of the now-defunct trading house Itoman Corp. for aggravated breach of trust and other charges.
Presiding Judge Akira Nasu rejected appeals filed by Yoshihiko Kawamura, 77, former president of Itoman, and Suemitsu Ito, 57, its former managing director, against an Osaka District Court ruling in 1999. Ito was sentenced to 10 years by the lower court and Kawamura received a seven-year term. They had pleaded not guilty.
During his trial, Kawamura said that extension of loans by Itoman was decided by management and that he did not intend to cause damage to the firm.
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