A Japanese supermarket executive in Myanmar, arrested since June, has been found guilty of high rice prices but has now been released, Tokyo has confirmed on Tuesday.
State media attribute the soaring rice prices in Myanmar to the El Nino weather phenomenon and market hoarders, but analysts suggest that civil unrest and economic turmoil following the 2021 military coup are the primary reasons.
Hiroshi Kasamatsu, director of Aeon Orange, which operates multiple supermarkets in Yangon, was taken into custody in June after an investigation by junta authorities into rice mills and supermarkets.
The junta spokesperson, Zaw Min Tun, announced on Monday that Kasamatsu has been “released,” without providing details on whether he had been convicted of any crime or if he would be deported.
The Japanese foreign ministry stated that he had been “convicted and sentenced to one year in prison… for violation of the law on daily necessities and services”.
“We are informed that he has been released and that there are no specific health issues,” the ministry said in an email statement to AFP.
It remains unclear if Kasamatsu is still in Myanmar or is returning to Japan.
Aeon, a major Japanese retailer, also confirmed his release but did not offer further comments.
Kasamatsu and three Myanmar nationals were apprehended on suspicion of violating the reference price under the Essential Supplies And Services Law and “selling rice at higher prices to cause economic disruption,” according to the junta at that time.
The three Myanmar nationals detained alongside Kasamatsu were employees of local retail companies. The junta spokesperson did not mention if they had also been released.
Since the military took over, the junta has imposed additional requirements for export and import licenses, as well as tightened regulations on fuel imports.
On the open market, the US dollar fetches more than double the central bank’s fixed rate, putting additional strain on businesses.
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