About
Yukio Hatoyama was Japan’s prime minister from 2009 to 2010. He resigned after only nine months in power after a term mired in fundraising irregularities and his inability to follow through on a campaign pledge to relocate U.S. troops from Okinawa.In the data
In March 2013 Hatoyama was appointed honorary chairman and senior consultant of Hoifu Energy Group Ltd., an oil and gas exploration and production company incorporated in Bermuda in 2000.
According to a company report, his role was to use his “amicable relationship” with the energy industry in the United States, Japan, China and Africa as the directors planned to expand Hoifu’s oil and gas business. The directors of the company, which is listed on the Hong Kong stock exchange, include Hui Chi Ming, one of China’s wealthiest oil tycoons with business interests in Madagascar, and international investor Neil Bush, the brother of former U.S. President George W. Bush.
Response
Hatoyama confirmed that he is the honorary chairman of Hoifu but said that “in substance” the title “has no meaning,” because he doesn’t attend management meetings nor is he involved with the company’s business. He also told Japanese newspaper Asahi Shimbun that Hoifu may have wanted to use his name to “earn trust” in China. Hatoyama said he receives consulting fees in his personal capacity which are regularly disclosed in his tax filings.
Hatoyama said he doesn’t know why the company was incorporated in Bermuda and not in Hong Kong, where it is listed. The company did not respond to requests for comments.
