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- dbr:Tokyo_Metropolitan_Police_Department
- dbr:Tokyo_Stock_Exchange
- dbr:Financial_Services_Agency
- dbr:Serious_Fraud_Office_(United_Kingdom)
- dbr:Federal_Bureau_of_Investigation
- dbr:Securities_and_Exchange_Surveillance_Commission
- Tsuyoshi Kikukawa, Hisashi Mori, Hideo Yamada and others (en)
- Olympus Corporation: Michael Christopher Woodford, Tsuyoshi Kikukawa, Hisashi Mori, Hideo Yamada; (en)
- Auditors: KPMG, Ernst & Young (en)
- ITX , Altis, Humalabo and News Chef , Gyrus Group (en)
- ex-CEO Michael Christopher Woodford (en)
- Intermediaries: Hajime Sagawa, Akio Nakagawa, Nobumasa Yokoo (en)
- ¥376 billion yen (en)
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| dbp:quote
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- Hence, judging that realisation of the 2010 Corporate Strategic Plan with its slogan of "Advancing to the Next Stage of Globalisation" would be difficult to achieve by the management team led by Woodford, all the board directors attending today, except for Woodford himself who could not participate in the voting due to special interest, unanimously resolved the dismissal from his office of the representative director. (en)
- As we have troubled our customers, business partners and shareholders over a series of press reports and a slump in share prices, chairman and president Tsuyoshi Kikukawa today returned his titles, as well as his right to representation ... (en)
- Mr Kikukawa will become a director without executive rights ... Shuichi Takayama, a current director, will replace him as president. (en)
- It has become clear that advisory fees and funds used to buy back preferred shares in the acquisition of Gyrus, as well as funds used in the purchase of three new domestic businesses ... were used, among other things, to dispose of unrealised losses on securities, the reporting of which had been put off. (en)
- The eventual cost of the Transaction to Olympus is extremely significant and is as a result of a number of actions taken by management which are questionable and which give cause for concern ... We were unable to confirm that there has been improper conduct, however, given the sums of money involved and some of the unusual decisions that have been made it cannot be ruled out at this stage ... In addition, there are a number of other potential offences to consider including false accounting, financial assistance and breaches of directors' duties by the board. (en)
- Investors have expressed opinions that the management of such listed companies have unfairly damaged their corporate value counter to shareholder interests and have cited underlying problems in the quality of Japanese corporate governance ... They have even expressed fears that such issues are occurring in other listed companies. (en)
- Michael C. Woodford has largely diverted from the rest of the management team in regard to the management direction and method, and it is now causing problems for decision making by the management team. (en)
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