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Daiwa House alleges embezzlement at
Chinese affiliate
Japanese developer warns of $100m profit hit if funds not recovered
HIROYUKI KOIZUMI, Nikkei staff writerMARCH 14, 2019 04:51 JST
Daiwa House Industry's Yihe Xinghai luxury condominiums in Dalian, China. The Japanese company accused management at a Dalian-based joint venture of embezzling funds.
OSAKA -- Japanese builder Daiwa House Industry has discovered an apparent case of financial misconduct at a Chinese affiliate that could cost it millions of dollars.
Chinese affiliate
Japanese developer warns of $100m profit hit if funds not recovered
HIROYUKI KOIZUMI, Nikkei staff writerMARCH 14, 2019 04:51 JST

Daiwa House Industry's Yihe Xinghai luxury condominiums in Dalian, China. The Japanese company accused management at a Dalian-based joint venture of embezzling funds.
OSAKA -- Japanese builder Daiwa House Industry has discovered an apparent case of financial misconduct at a Chinese affiliate that could cost it millions of dollars.