Thursday, March 12, 2009

Japanese Foundation Targeted for Accumulating Excessive Profits

An editorial in the Japan Times highlights the troubles at the Japan Kanji Aptitude Testing Foundation, a "public-interest corporation" that promotes kanji (Japanese characters) both in Japan and world-wide.  It is the only kanji testing organization authorized by the Japanese Ministry of Education, Culture, Sports & Technology, and in 2007 some 2.7 million people took the tests it administers.  As a public-interest corporation it is not permitted to generate profits greater than those needed to properly carry out its operations.  It is now accused of accumulating excessive profits to the tune of hundreds of millions of yen (millions of U.S. dollars) annually, as well as paying billions of yen to four firms with ties to the chief director of the foundation.

LHM

http://lawprofessors.typepad.com/nonprofit/2009/03/japanese-founda.html

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