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。

Sep 21
Finance chiefs of the Group of 20 industrial and developing economies agreed Sunday to take additional measures to ensure meeting their commitment to a growth target amid increasing risks. (Kyodo)
Sep 21
The identities of 35 dementia sufferers were unknown in 26 municipalities across the nation at the end of May, according to the government's first nationwide survey of such persons. (The Japan News)
Sep 21
This was anything but the day Japan expected on Saturday, the first day of the judo competition at the 17th Asian Games. (Kyodo)
Sep 20
A woman in her 20s who was bitten by a mosquito in Ueno Park in Tokyo's Taito Ward earlier this month has been confirmed infected with dengue fever, the Tokyo metropolitan government said Friday. (The Japan News)
Sep 19
A computer programmer has admitted to killing dozens of cats in Tokyo's Ota Ward, saying he had become enraged by all the strays that had gathered in the neighborhood, police said Sept. 18. (Asahi)
Sep 21
Japanese director Takashi Miike, whose violent and often controversial films boast a huge cult following, will be awarded the 2014 Maverick Director Award at the Rome film festival, organisers said Saturday. (AFP)
Sep 21
Two vending machines were torched and the money taken from them in Tokyo's Katsushika Ward on Saturday morning, bringing to 19 the number of vending machines which have been destroyed by fire in the area since Sept 15. (Japan Today)
Sep 20
Police in Tokyo said Friday they are looking for a man who sprayed a 17-year-old girl with a liquid resembling paint thinner as she walked home on Wednesday night-the third such incident to occur in the area since last month. (Japan Today)
Sep 19
A Tokyo man who was so stoned that he fell off his bike became the first bicyclist in Japan arrested on suspicion of driving under the influence of "dappo" (law-evading) drugs, police said. (Asahi)
Sep 19
Police in Saitama said Thursday they have arrested a 41-year-old man for fatally stabbing his 39-year-old wife. (Japan Today)
Sep 18
A 61-year-old truck driver has been arrested after he hit a group of elementary school children in Setagaya Ward, Tokyo, killing one 9-year-old girl and injuring two other children, aged 8 and 9. (Japan Today)
Sep 18
White smoke rose from under Tokyo Station's No. 22 platform Wednesday morning, suspending Shinkansen bullet train services. (The Japan News)
Sep 17
Tokyo Metropolitan Police on Wednesday arrested an organized crime member in the bust of a business in Shinjuku Ward that sold illegal pornographic DVDs, reports AV Asahi (Sept. 17). (Tokyo Reporter)
Sep 17
Following the bust of a shopping site selling shoes containing a miniature camera used to take illicit photographs, Kyoto Prefectural Police are now seeking the return of the merchandise from customers, it was revealed on Tuesday, reports the Mainichi Shimbun (Sept. 17). (Tokyo Reporter)
Sep 17
Police in Kumagaya, Saitama Prefecture, on Tuesday arrested a 19-year-old youth after he stabbed his parents at their home. The suspect's mother later died of her wounds. (Japan Today)