Takeshi Niinami, the former chairman of Suntory Holdings Ltd., has stepped down from his leadership role at a prominent business organization, the group announced, following a police inquiry into supplement acquisitions.
The Japan Association of Corporate Executives, commonly referred to as Keizai Doyukai, confirmed that its board of directors approved his resignation during their meeting that same day.
Mutsuo Iwai, the senior vice chairman who also heads Japan Tobacco Inc., will temporarily assume the leadership position while the organization searches for a permanent replacement.
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During a press briefing, Niinami explained that he submitted his resignation "to prevent division" within the association, noting that board members had disagreed about whether he should continue in his position.
When asked about the disputed supplement transactions, Niinami refused to elaborate, stating simply that he would work with investigating officials.
The well-known business leader, who has maintained his innocence, stepped down from his position at the beverage company on September 1 while continuing to head the business association.
Nevertheless, Niinami had withdrawn from his duties as the organization's leader, indicating he would allow the association to determine his fate as chief executive.
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"I do have regrets because there were still things that I wanted to do (as chief)," he added.
The Harvard Business School alumnus took charge of the Japan Association of Corporate Executives in April 2023 and has been a longtime business representative on the government's primary economic and fiscal policy advisory board.
Niinami announced his intention to remain a member of the Council on Economic and Fiscal Policy, a body that deliberates on significant matters such as government expenditures and strategies for economic development.
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The Japan Association of Corporate Executives consists of approximately 1,700 senior leaders from roughly 1,200 companies who develop recommendations regarding political, economic, and social matters.
Participants engage in the organization's activities in their personal capacity rather than as company or industry representatives, which distinguishes it from Keidanren, the Japan Business Federation, which serves as the nation's most influential business lobbying group with major corporations as its members.