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Japan bank executives take pay cuts after employee is accused of stealing from safe deposit boxes

  • Executives at MUFG Bank took pay cuts after an employee was arrested for stealing 1.4 billion yen worth of valuables from safe deposit boxes.
  • The employee, Yukari Imamura, allegedly stole gold and cash from about 60 customers over four years.
  • Bank executives, including Chairman Naoki Hori, took a 30% pay cut, while others received a 20% cut.
  • The bank plans to improve monitoring of safe deposit box keys and has begun compensating affected customers.
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