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Daiwa House Finds Fund Misappropriation at Chinese Affiliate

Daiwa House Finds Fund Misappropriation at Chinese Affiliate

   Osaka, March 13 (Jiji Press)--Japan's Daiwa House Industry Co. <1925> said Wednesday that a large amount of funds is likely to have been misappropriated at an affiliate in the Chinese city of Dalian.
   The amount of the misappropriated money at Dalian Dahezhongsheng Estate Co., which engages in residential development and other business in China, is estimated to be at least 23.4 billion yen, Daiwa House said.

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AFP-JIJI PRESS NEWS JOURNAL


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