Following a shocking development at a major Japanese beverage company, Takeshi Niinami, Chairman and CEO of Suntory Holdings, has stepped down after being questioned by authorities regarding the purchase of supplements containing THC, the psychoactive component of cannabis that is illegal in Japan above certain levels, as reported by the Japan Times.
On Tuesday, the company revealed that Niinami, a prominent figure in Japan’s business community and a member of a government economic panel, resigned following a police investigation related to supplements he purchased overseas – products he believed to be legal.
“We deeply apologize for the trouble caused by this incident,” stated Suntory Holdings President Nobuhiro Torii during a hastily arranged press conference in Tokyo.
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Torii disclosed that Niinami informed Suntory on August 22 about the police inquiry. An external lawyer was brought in by the company, who verified Niinami’s assertion that he acquired the supplements “with the belief that they were lawful.”
However, the Fukuoka Prefectural Police hold a different suspicion. Investigators suspect that the products might contain THC and became alerted to Niinami’s potential involvement following the arrest of another individual in July regarding illicit substances.
Niinami has refuted any wrongdoing, stating to investigators that a female acquaintance had ordered the supplements and had them shipped to him. He willingly underwent a THC urine screening, which came back negative.
Despite the ongoing investigation and absence of proven misconduct, Suntory’s board advised Niinami to resign, citing concerns about his decision-making and the company’s reputation.
Torii highlighted that the controversy “renders him unsuitable to continue as chairman,” particularly since Suntory itself markets supplements. After some initial reluctance, Niinami consented to step down on Monday, concluding his illustrious decade-long tenure with the organization.
Nevertheless, Torii commended Niinami’s leadership, saying, “He was an audacious, resolute, and proficient business leader,” adding, “Throughout his 10-year tenure with the company, he significantly enhanced the company’s revenue and profitability. That is an indisputable fact.”
Suntory Vice President Kenji Yamada emphasized that Niinami’s resignation is definitive, regardless of whether he is eventually cleared by the police:
“This determination was reached considering the gravity of the issue, which pertains to his suitability to lead a company dealing in supplements. Irrespective of the investigation’s outcome, this stance will remain unaltered.”
Niinami, who assumed the role of Suntory’s president in 2014 and was appointed chairman in March of this year, also serves as the head of the Japan Association of Corporate Executives (Keizai Doyukai), a prominent business advocacy group.
The supplements in question have not been located by investigators, and no formal charges have been lodged.
Perhaps Sammy Davis Jr. was under the influence of THC when he spontaneously added this Suntory advertisement? Maybe something with a bit more zest.
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