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News / NYK faces loss of ¥2bn and probes embezzlement claims at car-carrier subsidiary

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Shipping line NYK faces a ¥2bn ($18.5m) financial hit after allegations that former managers were involved in illegal spending and embezzlement.

The Japanese carrier said today it had formed a committee to investigate the actions of “locally hired” management at Chinese subsidiary NYK Car Carrier.

The Shanghai-based subsidiary operates in the finished-car logistics business ...

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