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Tsuyoshi Kikukawa
A number of individuals whose backgrounds are important to the understanding of the Olympus scandal, which was precipitated on 14 October 2011 when the company's British-born chief executive, Michael Woodford was suddenly ousted as chief executive of Olympus Corporation. He had been only two weeks into the job when he exposed "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history", according to ''the Wall Street Journal''."Olympus President: Will Do Utmost To Avoid Delisting" (subscription). ''The Wall Street Journal''. Dow Jones. 7 November 2011. Retrieved 8 November 2011. The US$2.2 billion deal in 2008 to acquire British medical equipment maker Gyrus Group, and the US$687 million paid to a middle-man were questioned. After initia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Olympus Scandal
The Olympus scandal was a case of accounting fraud exposed in Japan in 2011 at optical equipment manufacturer Olympus. On 14 October, British-born Michael Woodford was suddenly ousted as chief executive. He had been company president for six months, and two weeks prior had been promoted to chief executive officer, when he exposed "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history", according to ''The Wall Street Journal''. Tsuyoshi Kikukawa, the board chairman, who had appointed Woodford to these positions, again assumed the title of CEO and president. The incident raised concern about the endurance of tobashi schemes, and the strength of corporate governance in Japan. Apparently irregular payments for acquisitions had resulted in very significant asset impairment charges in the company's accounts, and this was exposed in an article in the Japanese financial magazine '' FACTA'' and had come to Woodford's attention. Japanese press ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Woodford (executive)
Michael Christopher Woodford, MBE (born ) is a British businessman who was formerly president and COO (April 2011) and CEO (October 2011) of Japan-based optics and reprography products manufacturer Olympus Corporation. Joining Olympus in 1981 and rising to manage its European operations, Woodford was the first non-Japanese person to be appointed as the company's CEO in October 2011, having "exceeded expectations" as president and chief operating officer for the previous six months. Within two months, he became a central figure in exposing the Olympus scandal, having been removed from his position after serving two weeks, when he persisted in questioning fees in excess of US$1 billion that Olympus had paid to obscure companies, which appear to have been used to hide old losses and appeared to have organised crime connections. The scandal rocked Japanese corporate governance, led to the resignation of the entire Olympus board and several arrests of senior executives, includi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Olympus Corporation
is a Japanese manufacturer of optics and reprography products. Olympus was established on 12 October 1919, initially specializing in microscopes and thermometers. Olympus holds roughly a 70-percent share of the global endoscope market, estimated to be worth approximately US$2.5 billion. Its global headquarters are located in Shinjuku, Tokyo, Japan. In 2011, Olympus attracted worldwide media scrutiny when it fired its CEO and the matter snowballed into a corporate corruption investigation with multiple arrests. It paid $646 million in kickback fines in 2016. Products Cameras and audio In 1936, Olympus introduced its first camera, the Semi-Olympus I, fitted with the first Zuiko-branded lens. The Olympus Chrome Six was a series of folding cameras made by Takachiho, and later Olympus, from 1948 to 1956, for 6×4.5 cm or 6×6 cm exposures on 120 film. The first innovative camera series from Olympus was the Pen, launched in 1959. It used a half-frame format, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millbank College Of Commerce
The City of Liverpool College is one of three colleges of further education in Liverpool, Merseyside. It was established in 1992 by the amalgamation of all four further education colleges within Liverpool. The college is located over several sites across the city centre. Community-based provision has been disestablished in response to reduction in funding provision by central government. ESOL (English for Speakers of Other Languages) courses are likely to be the sole community-based provision. The college left LEA control and was incorporated in 1993 and is overseen by the Corporation Board. The college's first principal was Wally Brown CBE. The board is made up of representatives from local businesses and communities. The college receives its funding from the government via the Skills Funding Agency (SFA). College Campus There are four main college centres, all of which are within the City Centre area. The Arts Centre The Arts Centre is a provider of arts teaching and lear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keio University
, mottoeng = The pen is mightier than the sword , type = Private research coeducational higher education institution , established = 1858 , founder = Yukichi Fukuzawa , endowment = N/A , president = Prof. Kohei Itoh , city = Minato , state = Tokyo , country = Japan , coor = , faculty = full time 2,791 , administrative_staff = full-time 3,216 , students = 33,437 , undergrad = 28,641 , postgrad = 4,796 , doctoral = 1,426excluding master course students as students in "Doctorate (prior)" , other_students = 0 In 2021, research students and auditors were not recruited due to the global epidemic of COVID‐19 (coronavirus disease). , campus = Urban , free_label = Athletics , free ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suspended Sentence
A suspended sentence is a sentence on conviction for a criminal offence, the serving of which the court orders to be deferred in order to allow the defendant to perform a period of probation. If the defendant does not break the law during that period and fulfills the particular conditions of the probation, the sentence is usually considered fulfilled. If the defendant commits another offence or breaks the terms of probation, the court can order the sentence to be served, in addition to any sentence for the new offence. Australia In Australia, suspended sentences are commonly imposed in order to alleviate the strain on overcrowded prisons. For example, an individual may be sentenced to a six-month jail term, wholly suspended for six months; if they commit any other offence during that year, the original jail term is immediately applied in addition to any other sentence. As of 1 September, 2014, suspended sentences no longer exist in Victoria, and in its place are community corr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drexel Burnham Lambert
Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States. The firm had its most profitable fiscal year in 1986, netting $545.5 million—at the time, the most profitable year ever for a Wall Street firm, and equivalent to $ billion in . Milken, who was Drexel's head of high-yield securities, was paid $295 million, the highest salary that an employee in the modern history of the world has ever received. The firm's aggressive culture led many Drexel employees to stray into unethical, and sometimes illegal, conduct. Milken and his colleagues at the high-yield bond department believed the securities laws hindered the free flow of trade. Eventually, Drexel's excessive ambition led it to abuse the junk bond market a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paine Webber
PaineWebber & Co. was an American investment bank and stock brokerage firm that was acquired by the Swiss bank UBS in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48 Congress Street in May 1881. The company was renamed Paine, Webber & Co. when Charles Hamilton Paine became a partner. Members of the Boston Stock Exchange, in 1890 the company acquired a seat on the New York Stock Exchange. Wallace G. Webber retired after the business weathered a major financial crisis that hit the market in 1893. History Founding and early history In May 1881, William Alfred (W.A.) Paine (with a loan from his father) and Wallace G. Webber founded Paine & Webber as a brokerage firm in Boston, Massachusetts with a seat on the Boston Stock Exchange. With the admission of Charles H. Paine to the partnership, the firm was renamed Paine, Webber & Co. The firm would purchase a seat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010s Economic History
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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