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。

News sources: BusinessWeek, ANNnewsCH

Apr 23 Obama on his way to Japan
US President Barack Obama has left the United States for his first trip to Japan in about 3-and-a-half years. Obama and Japanese Prime Minister Shinzo Abe will hold a summit meeting on Thursday. (NHK )
Apr 23 National school exams held
The education ministry conducted national academic achievement tests on Tuesday for all final-year students at primary and middle schools across the country. About 2.24 million students at about 30,000 schools took Japanese and mathematics exams. (The Japan News )
Apr 23 Japan, U.S. to defer broad trade accord
Japan and the United States are now seen deferring a broad trade agreement until after a summit meeting set for Thursday due to differences over key issues, informed sources said Tuesday. (Jiji Press )
Apr 23 Japan's bird flu virus has same gene type as S. Korea's
The virus strain that caused bird flu at a poultry farm in southwestern Japan has been confirmed to be genetically identical to the one found in South Korea, the National Institute of Animal Health said Tuesday. (Jiji Press )
Apr 22 Lost codes spark airport scramble on eve of Obama's arrival
Airport authorities in Tokyo launched a frantic scramble to change security pass codes, an official said Tuesday, the day before U.S. President Barack Obama arrives, after an airline employee dropped a memo containing the details. (Japan Today )
Apr 23 100,000 apply to participate in first public tours of parts of Imperial Palace
The Imperial Household Agency announced this week that it has received over 100,000 applications from individuals seeking to participate in the first ever public opening of parts of the Imperial Palace. (Japan Today )
Apr 23 79-year-old woman stabbed to death in Shizuoka home
Police in Hamamatsu, Shizuoka Prefecture, said Tuesday that a 79-year-old woman was stabbed to death at her home. (Japan Today )
Apr 22 Ex-judge installed camera in women's toilet at Ministry of Justice
A former judge from the Ministry of Justice is alleged to have installed a camera inside a women's toilet inside a ministry building in Kasumigaseki, people with knowledge of the matter announced on Monday, reports Sports Nippon (Apr. 22). (Tokyo Reporter )
Apr 22 Hunters kill bear after it attacks man in Niigata
Hunters shot and killed a bear on Monday after it attacked a man in Murakami, Niigata Prefecture. (Japan Today )
Apr 21 Daughter arrested for killing 83-year-old mother with kettle
Police in Okazaki, Aichi Prefecture, said Monday they have arrested a 55-year-old woman for fatally beating her 83-year-old mother with a kettle at their home. (Japan Today )
Apr 21 Justin Bieber 'in a happy place,' hits Tokyo with mom Pattie Mallette
Justin Bieber flies to Tokyo, Japan, with mom Pattie Mallette, leaving his legal woes, Drake Bell drama and the debate on the deportation petition behind. (inquisitr.com )
Apr 21 Man stabs ex-girlfriend, her parents in their home in Aichi
Police in Fuso, Aichi Prefecture, said Sunday they have arrested an unemployed 38-year-old man for attempted murder after he broke into the home of his ex-girlfriend and stabbed her and her parents. (Japan Today )
Apr 21 Man jumps to death after fatally stabbing father
Police in Tokyo said that a 46-year-old man apparently jumped to his death after fatally stabbing his father at their condominium in Tokyo's Koto Ward on Sunday morning. (Japan Today )
Apr 21 Matsushima gull feeding ban to protect pine trees
Feeding black-tailed gulls has been a popular activity on the sightseeing boats that cruise around the Matsushima islets, considered to be one of the three most beautiful spots in Japan, but local authorities banned the practice this month in a bid to protect the islets' famous pine trees from withering as a result of nitrogen in the droppings of the gulls, who have bred in large numbers in the area. (The Japan News )
Apr 20 Serial burglar suspected of over 100 thefts
Police in Tokyo have arrested a 41-year-old construction worker on suspicion of stealing over 10 million yen in cash and precious jewels. (Japan Today )