TOKYO: Japanese Prime Minister Shinzo Abe and his ally, Finance Minister Taro Aso, face mounting pressure over a suspected cronyism scandal as the finance ministry prepares to report on Monday that documents in the case were doctored.
Abe, now in his sixth year in office, had hoped to put the issue of the sale of state-owned land at a huge discount to a school operator with ties to his wife, Akie, behind him. But it has gathered steam with a series of fresh revelations.
A source with direct knowledge of the matter told Reuters on Saturday the finance ministry planned to report to parliament on Monday that it had found instances where content was deleted from documents submitted to lawmakers. The source spoke on condition of anonymity.
“If this is true, isn’t political responsibility unavoidable?” Akira Nagatsuma, a senior lawmaker in the opposition Constitutional Democratic Party of Japan, told reporters on Sunday.
Abe has repeatedly denied he or his wife did favors for school operator Moritomo Gakuen, which bought the land, and has said he would resign if evidence were found that they had. The issue last year sharply eroded Abe’s popularity.
Former Moritomo Gakuen head Yasunori Kagoike and his wife were arrested in July on suspicion of illegally receiving subsidies.
On Friday, National Tax Agency chief Nobuhisa Sagawa abruptly resigned over his remarks in parliament about the case.
Also on Friday, media said police were investigating as possible suicide the death of a finance ministry official whose local office had handled the land sale.
“If Minister Aso signed off on National Tax Agency chief Sagawa’s resignation knowing about the falsified documents, moves seeking his resignation are inevitable,” Yuichiro Tamaki, leader of the opposition Democratic Party, told reporters.
Suspicions of an attempted cover-up could slash Abe’s ratings and dash his hopes of a third term as ruling Liberal Democratic Party leader. Victory in the LDP September leadership vote would put him on track to become Japan’s longest-serving premier.
“If Aso were forced out, it would be a critical blow to the prime minister, reinforcing the impression of a cover-up and depriving Abe of a key ally who has served as finance minister since December 2012,” wrote Tobias Harris, vice president of consultancy Teneo Intelligence, in an email report.
Sagawa headed the ministry division that submitted the documents before he was tapped as tax agency chief in July, an appointment critics saw as a reward for his efforts to diffuse the issue with his statements to parliament last year.
Aso and Abe have both defended the appointment as “appropriate” and Aso has said he will not resign.
“If these documents were falsified, the entire cabinet should resign,” tweeted Mizuho Fukushima, a lawmaker with the tiny opposition Social Democratic Party.
Abe, 63, swept back to power in December 2012 promising to revive the economy and bolster its defense.
It was a rare comeback for the conservative lawmaker, who quit abruptly in 2007 after a year in office marked by scandals in his cabinet, a deadlocked parliament and ill health.
His ruling bloc won a two-thirds “super majority” in an October lower house poll, helped by opposition disarray.
Japan PM, finance minister face mounting pressure over suspected cronyism scandal
Japan PM, finance minister face mounting pressure over suspected cronyism scandal
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
