Oil Report

Kansai Electric execs got $3 mln in payments - president Iwane

TOKYO, Sept 27 (Reuters) - Kansai Electric President Shigeki Iwane said on Friday he and other executives at the Japanese utility received 320 million yen ($3 million) in payments from “a person outside the company” over seven years most of which they had returned.

Iwane did not say from whom they had received the money but the hastily called press conference followed media reports that the executives had received personal payments from a former official of a town that hosts one of the utility’s nuclear power plants.

Iwane said the executives involved, including himself, had been punished within the company. ($1 = 107.7300 yen) (Reporting by Kiyoshi Takenaka; Editing by Muralikumar Anantharaman)