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Red yeast rice has been used in food, alcoholic beverages, and folk medicines across East Asia for centuries.
The scandal broke in March when the Japanese household name recalled three brands of dietary supplements after customers complained of kidney problems.
The company later said it had detected potentially toxic acids produced by mold at one of its plants and that the government had inspected its equipment.
Last month, the company said it was investigating a total of 80 deaths that may be linked to its drugs and looking into whether organs other than the kidneys were damaged.
But at the time the government called Kobayashi’s delay in reporting the number of cases it was investigating “extremely regrettable.”
In a separate statement on Tuesday, the company’s board said it was “praying for the souls of the victims … and offering condolences to the families of the victims.”
The company said its new president is Satoshi Yamane, who previously served as head of sustainability policy.
The company added that outgoing president Akihiro Kobayashi has expressed his willingness to accept responsibility for any damage caused and will continue in an executive role to manage matters related to compensation.
Kobayashi’s red yeast rice supplements are regulated under a system established in 2015 by former Prime Minister Shinzo Abe.
Some regulators have reportedly expressed concern that the products are not regulated strictly enough and that they do not always work as advertised.
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