Executives of troubled firms, including Seibu Railway Co., Japan Airlines Corp. and Itoham Foods Inc., apologized Tuesday at their annual shareholders' meetings for troubling their investors.
Shareholders of the now-delisted Seibu Railway, whose leaders resigned last month over a scandal involving the firm's false financial statements, received an apology from President Takashi Goto.
Seibu Railway falsified stockholdings statements by underreporting equity holdings by major shareholders, including Kokudo Corp., a privately held firm that effectively controls the Seibu conglomerate.