The Japan Skating Federation recorded a huge loss over a period of several years up to 2003 in its international operations, a senior federation official said Sunday.
The value of the federation's assets fell below 200 million yen in 2003 from more than 500 million yen in 1998 after the Nagano Olympics concluded, Mitsuo Matsumoto, executive director of the federation, said.
While noting that the decline stemmed from a series of losses in its international businesses, Matsumoto said the federation will launch an investigation into its fund management.
Shizuka Arakawa won a gold medal at the Turin Winter Games last month, the first figure skating gold for Japan.