Ex-Olympus chairman gets suspended sentence for fraud
BusinessWeek -- Jul 04
Former Olympus Corp. Chairman Tsuyoshi Kikukawa received a suspended sentence for his role in a $1.7 billion accounting fraud that caused the Japanese camera maker's market value to plunge 80 percent.

Olympus itself, also the world's largest maker of endoscopes, was ordered to pay 700 million yen ($7 million) in fines by Tokyo District Judge Hiroaki Saito today. Former Olympus Executive Vice President Hisashi Mori and Hideo Yamada, a former auditing officer, also got suspended sentences.

Judge Saito's decision comes almost two years after revelations that the company had falsified financial reports to conceal losses on investments. The sentences reflect the defendants' claims that former Olympus presidents Masatoshi Kishimoto and Toshiro Shimoyama made the decision to hide losses, while he inherited the aftermath.

"Kikukawa and Yamada succeeded in a negative legacy and weren't involved in the decision-making process to hide losses," Saito said in court today. "They were distressed and didn't benefit personally from hiding losses. Mori followed their orders."

The camera maker still faces lawsuits by investors including State Street Bank and Trust & Co. and Government of Singapore Investment Corporation Pte Ltd. in a joint complaint seeking 19.1 billion yen in damages.

オリンパスの巨額損失隠し事件で、元社長らに執行猶予の付いた有罪判決です。

Aug 28
Japanese police fear a bloody gang war could erupt following the breakup of the Yamaguchi-gumi, the nation's largest organized crime syndicate. (Asahi)
Aug 28
Japan criticized China's official Xinhua News Agency on Friday for having demanded an apology from Emperor Akihito over Japan's wartime acts, saying such a claim was "extremely discourteous to His Majesty the Emperor." (Kyodo)
Aug 28
Japanese Prime Minister Shinzo Abe is likely to be reelected president of the ruling Liberal Democratic Party as early as Sept. 8, as no one apparently plans to challenge him, it was learned Thursday. (Jiji Press)
Aug 27
Japanese astronaut Norishige Kanai will stay at the International Space Station for about six months from November 2017, the Japan Aerospace Exploration Agency said Wednesday. (Jiji Press)
Aug 27
The design for the 2020 Tokyo Olympics official emblem initially submitted by art designer Kenjiro Sano is different from the current one, it was learned Wednesday. (The Japan News)
Aug 28
Japan's Empress Michiko has enjoyed playing the piano to the singing voice of a prominent foreign soprano. (NHK)
Aug 28
Tokyo Metropolitan Police have launched a murder investigation following the discovery of the body of 25-year-old woman inside her apartment in Nakano Ward, reports Fuji News Network. (Tokyo Reporter)
Aug 27
Three men and two woman were killed after the minivan they were traveling in flipped over and slammed into the railing of a bridge in Asuka, Nara Prefecture, early Thursday. (Japan Today)
Aug 27
A bogus smartphone tip spreading through tweets is causing a headache for the National Police Agency as users have been tricked into dialing the emergency number 110 in at least 22 prefectures. (Japan Times)
Aug 27
As a part of an investigation into a car accident earlier this year in Utsunomiya City, an organized crime boss has been arrested for a firearms violation, reports Fuji News Network (Tokyo Reporter)
Aug 27
An American man arrested earlier this month in connection with the death of a Japanese woman whose body was found off the coast of Miura, Kanagawa Prefecture, is expected to face another arrest warrant shortly, this time for killing the woman, an investigative source said Wednesday. (Japan Times)
Aug 27
Koji Yamada, the 45-year-old man who was arrested in Osaka Prefecture last week for abandoning a girl's body, was questioned by police in Tokyo before committing the alleged crime, it was learned on Wednesday. (Jiji Press)
Aug 26
Police raided the headquarters of Japan's largest yakuza syndicate Yamaguchi-gumi on Tuesday after 14 workers at a waste disposal plant in Kobe, western Japan, became sick after treating waste from the building early this month. (Japan Times)
Aug 26
Toyama Prefectural Police on Tuesday arrested a 56-year-old woman for allegedly dumping the body of her father outside their home in Takaoka City. Investigators are now working to apply murder charges, reports the Asahi Shimbun (Aug. 26). (Tokyo Reporter)
Aug 26
Soggy bread is the pits. A great sandwich is equal parts texture and taste, so there's no greater let-down when your bread feels like a freshly opened bucket of tile grout. (rocketnews24.com)