Major construction firms donated 2.6-million dollars to LDP when no dividends were paid
Major general contractor construction companies have made huge amounts of donations to the Liberal Democratic Party although they reported losses and produced no dividends.
Japanese Communist Party representative Omori Takeshi revealed this fact at a House of Representatives committee meeting on May 29.
According to Omori, 22 general contractors paid no dividends to shareholders but have given a total of 325-million yen (about 2.6 million dollars) to the LDP between 1998 and 2001. These corporations included some that have gone bankrupt with enormous debts written off.
The JCP representative stressed the need to ban public works projects contractors from making political donations. This is necessary to eradicate corruption in public works projects. (end)