In fresh scandal for Toshiba, subsidiary found to have booked ¥43.5 billion in fictitious sales
Toshiba Corp. said Friday that a subsidiary booked fictitious sales of ¥43.5 billion in 26 transactions recorded only on paper. The scandal may again throw Toshiba into a crisis similar to its massive accounting fraud in 2015. The subsidiary in question is Toshiba IT-Services Corp. based ...
Japan Post to probe more insurance contracts as sales scandal grows
Japan Post Holdings Co. says it will look into 220,000 more insurance contracts — signed by around 60,000 customers — that are suspected of being part of a widening scandal involving improper sales. In an announcement Friday, the former state-owned postal group also said that ...
Japan Post Insurance misconduct may have hit 60,000 more customers
Improper sales practices for Japan Post Insurance Co. products may have disadvantaged 60,000 more customers than previously known, sources have said. In August, the Japan Post Holdings Co. group started to investigate 183,000 Kampo-brand insurance contracts involving 156,000 customers who had possibly been affected by ...
Germany launches raids over suspected Mitsubishi diesel emissions fraud
German prosecutors Tuesday said they were searching business premises across the country as part of an investigation into suspected diesel emissions cheating involving Mitsubishi cars.
WWF voices 'deep concern' over purchasing standards set by Tokyo committee for 2020 Olympic Games
The World Wildlife Fund expressed concern Monday over standards set for commodity procurement by the Tokyo Organising Committee of the Olympic and Paralympic Games, saying that they are "inappropriate." In a statement, the WWF said it was "deeply concerned" that the organizing committee produced "protocols ...
Nissan considers scrapping advisory roles for former executives
Nissan Motor Co. may stop placing former executives in advisory posts as part of an overhaul to its corporate governance practices following the ousting of former Chairman Carlos Ghosn, sources said Wednesday. The possible abolition of the komon adviser and sōdanyaku consultant posts is aimed ...
Ruling against France's Orange over suicides sets precedent for corporate responsibility
A landmark ruling against the former French telecommunications monopoly could pave the way for similar collective procedures. The telecom group Orange and former CEO Didier Lombard were guilty of "moral harassment" that prompted a spate of suicides during a restructuring in the late 2000s, a ...
Takedown: The monumental fall of auto titan Carlos Ghosn
It took two decades for "le cost-cutter" Carlos Ghosn to carve out his three-way automobile empire. But in a matter of days, it was ripped from his grasp. Exactly a year ago, prosecutors waited for Ghosn as he arrived at Tokyo's Haneda Airport in a ...
Japan Post uncovers nearly 20,000 cases of improper investment trust sales
Japan Post Bank has said that it has found 19,591 cases of improper investment trust sales since April last year. The cases involve the violation of internal rules that govern sales of investment trusts to customers age 70 or older, the Japan Post Holdings Co. ...
Japan's antitrust law amended to encourage companies under investigation to cooperate with FTC
The Diet enacted Antimonopoly Law amendments on Wednesday designed to provide companies involved in anti-competitive practices with stronger incentives to cooperate in investigations under a leniency system. The House of Councilors approved the amendments by a unanimous vote at a plenary session. The amendments passed ...
Trump claimed business losses of $1.17 billion over a decade, report says
U.S. President Donald Trump, who won the presidency in part on his image as a successful business mogul, lost $1.17 billion over 10 years on failed business deals, according to tax records obtained by The New York Times. The losses, in the 1980s and 1990s, ...
Fine sought for Citigroup unit over alleged rigging of Japanese government bond futures
The nation's securities watchdog is seeking a ¥133 million fine for a unit of U.S. financial giant Citigroup Inc. for the alleged rigging of Japanese government bond futures prices. The Securities and Exchange Surveillance Commission on Tuesday recommended the Financial Services Agency impose the fine ...
