Obituary: Hisashi Shinto

[Dave Farber <dave () farber net>]

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Date: Sun, 26 Jan 2003 18:48:59 -0500 (EST)
To: dave () farber net
Subject: Obituary: Hisashi Shinto


Hisashi Shinto

TOKYO (AP) - Hisashi Shinto, the first president of Japanese
telecommunications giant Nippon Telegraph and Telephone Corp. - who was
forced to resign over a bribery scandal in the late 1980s - died Sunday of
pneumonia, a company official said. He was 92.

As president, Shinto led the former government-run utility through
privatization, overseeing the company's initial public offering of shares in
April 1985. He was appointed chairman in June 1988.

Six months later, Shinto resigned in a bribery scandal tied to the
information-media enterprise Recruit Co. The scandal exposed corruption
among business and government leaders.

In March 1989, Shinto was arrested on charges of profiting from stocks
received in the deal. The Tokyo District Court convicted him in 1990,
sentencing him to a two-year suspended prison term.

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