The President and Chief Executive Officer of Dentsu, the largest advertising company in Japan, has admitted to his company rigging bids for contracts related to the Tokyo Olympic Games. This follows a long-running investigation by Japanese regulators into allegations of bid rigging by Dentsu and other companies involved in the Olympics.
In a statement to the Japanese parliament, Toshihiro Yamamoto acknowledged that Dentsu had engaged in illegal activities, including manipulating bidding processes, and said that he took full responsibility for the company's actions. He apologized for any damage caused to the reputation of the company and to the Olympic Games.
The admission by Yamamoto follows a series of investigations by Japanese authorities into allegations of corruption and misconduct in the bidding process for the 2020 Tokyo Olympics, which were postponed to 2021 due to the COVID-19 pandemic. Last year, a former president of the Japanese Olympic Committee was sentenced to prison for his role in the bid-rigging scandal.
The admission by Dentsu is a significant blow to the company's reputation, which has been tarnished by a series of scandals in recent years. Dentsu is one of the largest advertising companies in the world, with a significant presence in the Asia-Pacific region. The company has been under pressure to improve its corporate governance and transparency in the wake of the scandals.
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