Lawmaker Hosono Borrowed 50 M. Yen Just before 2017 Election

June 27, 2018

Tokyo- Former Japanese Environment Minister Goshi Hosono borrowed 50 million yen from a securities company in Tokyo during the official House of Representatives election campaign period in October last year, informed sources said Wednesday.

Hosono has already repaid the loan, including interest, according to his office and the company.

If the money was used for political funds, he should have reported it in his election campaign expense report under the public offices election law.

He did not mention the money in the report, while correcting his financial and asset statement to register the 50 million yen later.

Hosono's office said in a statement that although he borrowed the money, he did not use it, suggesting that the money was not for political use.

An official at the brokerage house said that, as the loan was made just before the Lower House election on Oct. 22 last year, the company did not think the money was for the election campaign.

According to the company, it provided the loan to Hosono on Oct. 19 last year by drawing up a contract with him. The loan was fully repaid on April 9 this year with interest.

But Hosono did not report the money in his financial and asset statement as of the election date submitted in January this year. After the statement was made public on April 2, Hosono corrected it and reported the 50 million yen as debt.

The office said it did not initially report the money as it believed Hosono borrowed the money after the election.

Hosono left the Democratic Party in August last year and joined the Party of Hope, launched by Tokyo Governor Yuriko Koike. After winning a seat in the election, Hosono became an independent member of the lower chamber of the Diet, Japan's parliament. Jiji Press