Tokai Kisen's president will leave the board at the end of this month to take responsibility for the administrative action the company received on October 2. President Junichi Yamazaki resigns as president and director on October 31, the company said in a notice after its board met on October 5.
The notice ties the resignation to "management responsibility" for the series of incidents behind the action issued by the Kanto District Transport Bureau of the transport ministry on October 2. The company's separate earlier coverage of the action set out the order itself.
Succession
The board chose Yoshinori Kurasaki, a managing director and executive officer who heads the administration division, as president from November 1. Kurasaki, born in 1962, started at the Industrial Bank of Japan, now Mizuho Bank, in 1985 and joined Tokai Kisen in 2015. He holds 3,000 shares. Yamazaki becomes an advisor on November 1.
The company said the new team will carry out the measures in its improvement plan, strengthen safety management and compliance, rebuild its safety culture and work to restore trust.
Pay returns
A second notice the same day says officers will voluntarily return part of their monthly remuneration from October 2026. Yamazaki gives back 80% for one month. Kurasaki returns 30% for two months.
| Role | Share of monthly pay returned | Period |
|---|---|---|
| President (Junichi Yamazaki) | 80% | 1 month |
| Managing director (Yoshinori Kurasaki) | 30% | 2 months |
| Director (one) | 20% | 2 months |
| Full-time auditors (two) | 10% | 2 months |
| Outside directors (three) | 10% | 1 month |
| Outside auditor (one) | 10% | 1 month |
The notice gives percentages, not yen amounts.