Olympus responds to fresh charges over scandal (update)

Olympus has confirmed that it faces further charges in relation to the accounting scandal that has rocked corporate Japan.

Picture: Former executive vice-president Hisashi Mori is among those who face further charges, according to the Wall Street Journal

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Olympus has confirmed that it faces further charges in relation to the accounting scandal that has rocked corporate Japan.

Olympus’s Tokyo office has today issued a statement after a Wall Street Journal report that Japanese prosecutors are seeking additional charges to ‘cover financial years not addressed in earlier arrests or charges’.

The new criminal charges concern Olympus as a corporation, along with five individuals for their alleged involvement, according to the paper.

Those accused of breaching Japanese financial regulations, by filing false statements, reportedly include former chairman Tsuyoshi Kikukawa and former executive vice-president Hisashi Mori (pictured).

Olympus confirmed that it has ‘received a notice that the prosecutor of the Tokyo District Public Prosecutors’ Office has prosecuted the company by the charged facts…’

The Olympus statement adds: ‘The company takes the supplementary prosecution by the Tokyo District Public Prosecutors’ Office with utmost seriousness and will continue to make every endeavour to enhance the corporate governance systems.’

Meanwhile, ousted CEO Michael Woodford told the Wall Street Journal that Olympus officials have tried to see the transcript of his 320-page book about the affair, ahead of its publication next month. But Woodford said his lawyer refused permission.

The Japanese version, to be entitled Terminated, is due to be published in Japan on 16 April, just four days before the matter is discussed at an extraordinary meeting of shareholders in Tokyo, which the whistleblower plans to attend.

As Woodford explained to Amateur Photographer in an interview last month, an English version of the book – due to be called Exposure – will be published later this year.

An Olympus Tokyo representative could not be reached for comment at the time of writing.

Picture: Former executive vice-president Hisashi Mori is among those who face further charges, according to the Wall Street Journal

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