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Daio Paper, Hokuetsu Kishu agree on capital alliance

TOKYO, Japan - Daio Paper Corp. President Masayoshi Sako speaks during a press conference in Tokyo on June 26, 2012. The scandal-tainted company and Hokuetsu Kishu Paper Co. have agreed on a capital alliance in which Hokuetsu Kishu will become Daio's largest shareholder with a 22.12 percent stake.

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Hokuetsu Kishu to become largest stockholder of Daio Paper

TOKYO, Japan - Photo shows a building housing the Tokyo headquarters of Daio Paper Corp. in Tokyo's Chuo Ward on June 20, 2012. Hokuetsu Kishu Paper Co. is considering purchasing a stake of around 20 percent in scandal-tainted Daio Paper for around 10 billion yen to become its largest stockholder, a company source said the same day.

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Hokuetsu Kishu to become largest stockholder of Daio Paper

TOKYO, Japan - Photo shows the headquarters of Hokuetsu Kishu Paper Co. in Tokyo's Chuo Ward on June 20, 2012. Hokuetsu Kishu Paper is considering purchasing a stake of around 20 percent in scandal-tainted Daio Paper Corp. for around 10 billion yen to become its largest stockholder, a company source said the same day.

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Ex-Daio Paper Chairman Ikawa arrested

TOKYO, Japan - A vehicle carrying former Daio Paper Corp. Chairman Mototaka Ikawa enters the Tokyo Detention House on Nov. 22, 2011. Prosecutors arrested Ikawa earlier the same day in connection with taking out massive loans from Daio Paper group companies.

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Ex-Daio Paper Chairman Ikawa arrested

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. Prosecutors arrested Ikawa on Nov. 22, 2011, in connection with his massive loans from Daio Paper group companies.

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Ex-Daio Paper chairman Ikawa

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. The company will soon file a criminal complaint against him on suspicion of an aggravated breach of trust over his massive borrowings from group companies, sources said Nov. 21, 2011.

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Ex-chairman of Daio Paper Ikawa

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. The company vowed Oct. 28, 2011, that it will lodge a criminal complaint against Ikawa over dubious loans to him exceeding 10 billion yen from Daio group firms.

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Rivalry intensifies as Hokuetsu refuses to back Daio Paper chief

Undated photos show Daio Paper Corp. President Masayoshi Sako (L) and Hokuetsu Kishu Paper Co. President Sekio Kishimoto. Hokuetsu has refused to support the reappointment of Sako as Daio president, sources close to the matter said on June 16, 2015. Hokuetsu is Daio's top shareholder with a stake of over 20 percent. (Kyodo) ==Kyodo

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Ex-Daio Paper chairman

TOKYO, Japan - Mototaka Ikawa, a former chairman of Daio Paper Corp., enters the Tokyo District Court in Tokyo on March 1, 2012. He pleaded guilty to causing 5.5 billion yen in losses to seven subsidiaries of the maker of Elleair-brand tissue paper after spending the firms' money at casinos. (Kyodo)

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Ex-Daio chairman released on bail

TOKYO, Japan - Former Daio Paper Corp. Chairman Mototaka Ikawa is released on bail from the Tokyo Detention House in the Japanese capital's Kosuge area on Dec. 22, 2011. Tokyo prosecutors brought additional charges against Ikawa the same day for causing 2.33 billion yen in damage to three of the company's subsidiaries. The 47-year-old grandson of the papermaking company's founder was already indicted on another charge of aggravated breach of trust over loans from four group companies totaling 3.2 billion yen. (Kyodo)

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Ex-Daio Paper Chairman Ikawa arrested

TOKYO, Japan - A vehicle carrying former Daio Paper Corp. Chairman Mototaka Ikawa enters the Tokyo Detention House on Nov. 22, 2011. Prosecutors arrested Ikawa earlier the same day in connection with taking out massive loans from Daio Paper group companies. (Kyodo)

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Ex-Daio Paper Chairman Ikawa arrested

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. Prosecutors arrested Ikawa on Nov. 22, 2011, in connection with his massive loans from Daio Paper group companies. (Kyodo)

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Ex-Daio Paper chairman Ikawa

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. The company will soon file a criminal complaint against him on suspicion of an aggravated breach of trust over his massive borrowings from group companies, sources said Nov. 21, 2011. (Kyodo)

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Ex-chairman of Daio Paper Ikawa

TOKYO, Japan - Undated file photo shows Mototaka Ikawa, former chairman of Daio Paper Corp. The company vowed Oct. 28, 2011, that it will lodge a criminal complaint against Ikawa over dubious loans to him exceeding 10 billion yen from Daio group firms. (Kyodo)