Overview
- The Yokohama District Public Prosecutors Office announced on Jan. 5 that it would not appeal the Yokohama District Court’s December acquittals.
- Former chairman Tsuneichiro Hirata, 77, and former president Kiyoshi Higurashi, 74, had been charged with violating the Financial Instruments and Exchange Act over alleged false disclosures.
- The remand retrial ruling concluded that proof of falsity in the securities reports left reasonable doubt, resulting in not-guilty verdicts.
- Deputy prosecutor Takeshi Kuge said prosecutors judged it difficult to muster new evidence sufficient to overturn the ruling.
- The case involves housing company Nice, formerly Sutekinice Group, and the non-appeal made the acquittals final as the filing deadline expired the same day.