Norio Ohga, former chairman and president of Sony Corp., plans to donate all 1.6 billion yen of his retirement benefits after taxes to the town of Karuizawa, Nagano Prefecture, company and town officials said Wednesday.
Part of the money will be used to build a concert hall in the summer resort, the officials said.
"We are truly happy," Karuizawa Mayor Masayoshi Sato told reporters in Nagano. "It is such a large amount of money. I cannot express (my feelings) in words."
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