2023-08-03 22:48:44
Big Motor Co., Ltd., a major used car sales company, has been exposed to fraudulent claims related to auto insurance. A distorted management structure has emerged, and there is suspicion that the non-life insurance company is involved in fraud.
The Ministry of Land, Infrastructure, Transport and Tourism has started an on-site inspection of Big Motor. The Financial Services Agency’s investigation of non-life insurance companies also needs to be thorough.
Among the non-life insurance companies that have dealt with Big Motor, Sompo Japan Insurance stands out and has a deep relationship. The company has so far sent 37 people to Big Motor, while the other two companies have only three each. Furthermore, following the Big Motor employee’s accusation of fraud, the three non-life insurance companies that had seconded employees stopped mediation services for accident vehicles, but only Sompo Japan resumed.
The Financial Services Agency should conduct an on-site inspection of Sompo Japan Insurance Inc. and investigate in detail whether there was any involvement in the fraud and to what extent the management knew the situation. If it turns out that there was collusion, it would be unavoidable to develop into severe administrative punishment and problems with top management.
Furthermore, it became clear in each area that the street trees in front of Big Motor stores had died unnaturally. The company has announced on its website that it is highly likely that the trees and shrubbery lining the streets in front of several stores have died due to the effects of the herbicide used during cleaning.
Destroying public vegetation for any purpose is a serious offense that might lead to criminal charges. The Ministry of Land, Infrastructure, Transport and Tourism and local governments should promptly conduct interviews with employees and conduct soil surveys, and take strict measures.
The shares of Big Motor, an unlisted company, are held 100% by an asset management company effectively controlled by former president Hiroyuki Kaneshige and his eldest son, former vice president Koichi. ing.
In order to fundamentally change the corporate culture and make a fresh start, it is necessary to have the Kaneshige father and son completely withdraw from management, but it is unclear whether the new president, who was part of the former management team, will be able to do so.
It seems that the only way to survive is to renew the management structure, including the capital relationship, following the full picture of the fraud by the supervisory authority is clarified.
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