For how long can a company hide investment losses ? For 2 years, or maybe 4 years? How about more than 30 years? The senior management of Olympus Corp. , a Japanese manufacturer of high-tech machinery and instruments, announced that it covered up investment losses dating back to the 1980s. Apparently the blame had to fall on the former Presindent and chairman Tsuyoshi Kikukawa (who quit on the 26th of October), on the Vice-President Hisashi Mori and the internal auditor Hideo Yamada, but considering the sheer size of the company it is impossible to say that they were the only people familiarized with the cover-up. 
Showing posts with label Japan. Show all posts
Showing posts with label Japan. Show all posts
Tuesday, 8 November 2011
Where to Olympus ?
For how long can a company hide investment losses ? For 2 years, or maybe 4 years? How about more than 30 years? The senior management of Olympus Corp. , a Japanese manufacturer of high-tech machinery and instruments, announced that it covered up investment losses dating back to the 1980s. Apparently the blame had to fall on the former Presindent and chairman Tsuyoshi Kikukawa (who quit on the 26th of October), on the Vice-President Hisashi Mori and the internal auditor Hideo Yamada, but considering the sheer size of the company it is impossible to say that they were the only people familiarized with the cover-up. 
Subscribe to:
Posts (Atom)