Business Improvement Plan Submitted to FSA(2/2)
Measures to be Taken against Persons Responsible
1. Executives (as of December 2005) ---- a reduction in monthly salary
Teisuke Kitayama, Chairman of the Board and Masayuki Oku, President --- a 40% cut for six months
Three deputy presidents --- a 30% cut for three months
Ten other members of Management Committee --- a 10% - 20% cut for three months
Nine other involved executive officers, etc. --- a 5% - 10% cut for three months
The persons who had already resigned when the orders were issued by the FSA will pay back the same amounts.
The general managers of the head-office departments and the Corporate Business Offices, who are responsible for the violations, will be strictly reprimanded in accordance with concerned internal rules.
Further, the below retired directors will be requested to pay back the followings:
Akishige Okada, the former Chairman of the Board and Yoshifumi Nishikawa, the former President and CEO --- 50% of the monthly salary for six months
Michiyoshi Kuriyama and Toichiro Mizushima, the former Deputy Presidents (*)
--- 30% of the monthly salary for six months
(*)They held the positions of Head of Middle Market Banking Unit after the fiscal year 2001.