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.
A British couple who tied the knot at a Kyoto shrine have become the first to receive a memorial marriage certificate from the city, under a newly created program to attract more foreign visitors. (Asahi)
Investigators have found 7.85 million passwords, credit card numbers and other pieces of stolen personal information on an Internet server seized last year from a Tokyo-based firm that provided proxy servers for Chinese users, Tokyo police said Friday. (Japan Times)
Time magazine has named two Japanese among its list of the world's 100 most influential people of 2015: novelist Haruki Murakami and Marie Kondo, an organizing consultant whose book introducing her art of tidying up became a best-seller. (NHK)
Police in Tatebayashi, Gunma Prefecture, are investigating the murder of an 84-year-old woman whose body was found in the Tatara River on April 15. She had a plastic bag over her head and a scarf pulled tightly around her neck when she was found. (Japan Today)
A movie by Japanese director Hirokazu Kore-eda has been shortlisted in competition for best picture at the Cannes International Film Festival in France. Cannes is one of the world's 3 major film festivals. (NHK)
Police in Toride, Ibaraki Prefecture, said Thursday they are questioning a 36-year-old man over an incident on Wednesday morning in which a 47-year-old man was shot in the calf by an arrow from a crossbow as he was riding his bike home. (Japan Today)
The Tokyo Metropolitan Fire Department said Wednesday that its emergency 119 line was down for about four hours from 5 p.m. to 9 p.m. on Tuesday. It was the second time in two months that the 119 had been inaccessible. (Japan Today)