Olympus board promises no more scandals

Business Jun. 29, 2012 - 06:49AM JST ( 22 )

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22 Comments

7

LowlyJun. 29, 2012 - 07:38AM JST

Well, just so longs they promised...

I hear sighs of relief from the whole archipelago !
5

DoLittleBeLateJun. 29, 2012 - 08:00AM JST

I'm confused on exactly what was promised: no more falsifying records, or them not becoming a (public) problem anymore? Given their track record (and the ah! so lovely Japanese business ethics), it is a valid concern.

Again: The problem was that they falsified records. The problem was NOT that the fact of it became public.
6

NetNinjaJun. 29, 2012 - 08:14AM JST

They promised one more thing behind closed doors. "We'll never let another gaikokujin get through the glass ceiling". This will ensure that they'll never be another PUBLIC scandal.
1

jojo_in_japanJun. 29, 2012 - 08:29AM JST

Fingers and toes crossed???
3

YubaruJun. 29, 2012 - 08:51AM JST

And we are supposed to believe them why?
3

Dennis BauerJun. 29, 2012 - 08:52AM JST

they implemented a better cover up policy? :p
1

smithinjapanJun. 29, 2012 - 08:58AM JST

Oh, phew! They gave us our word. No need for any further follow-ups or punishments. We all know when a J-company president or a politician gives you their word that that word will never be broken.
1

ReformedBasherJun. 29, 2012 - 09:21AM JST

I miread the headline as "Olympics board promises no more scandals".

Which would make sense too.
0

Christina O'NeillJun. 29, 2012 - 09:44AM JST

A share holder asked, "Can you swear that past problems will never happen again" I dont see any reply from the Execs
-2

herefornowJun. 29, 2012 - 09:55AM JST

The new board of Japan’s Olympus pledged Thursday there would be no more accounting scandals at the camera and medical equipment maker

Amazing, a publicly traded company actually pledging it will obey the law. Great day for corporate governance in Japan.
0

walteryJun. 29, 2012 - 10:00AM JST

They will need an endoscope to keep watch on the Execs.
0

NewsmanJun. 29, 2012 - 10:24AM JST

No more, no less!
1

ProbieJun. 29, 2012 - 10:50AM JST

Olympus board promises no more scandals

So, did they promise to have scandals when the company was formed all those years ago?
0

soldaveJun. 29, 2012 - 10:58AM JST

As NetNinja said, the real promise is to stop those mendokusai foreigners from being allowed into the company where they can whistle-blow again.
0

gogogoJun. 29, 2012 - 11:37AM JST

Promises? How weak a word that is for a company to say.
0

gogogoJun. 29, 2012 - 11:39AM JST

The funny thing is that they are saying "no more scandals", they didn't say "no more cooking the books" or "no more cheating the system"... they just promised that there will be no more information leaks about their corruptness.
1

Tom WebbJun. 29, 2012 - 12:39PM JST

Yeah sure. You'll just find a better way to conceal illegal activities. I don't see things changing drastically in JP.
-1

timtakJun. 29, 2012 - 02:20PM JST

Olympus' main product endoscopes are very expensive (e.g. 30,000 USD) and often sold to governmental buyers often I presume in bulk (e.g. one or two for each of several hospitals in a district). In many countries it is impossible to secure a government contract without wetting the palm of the government official in charge of deciding which product to purchase. If they do not involve themselves in 'accounting scandals' how are they going to sell their endoscopes, especially if their competitors have no such qualms? How can they legally put down such expenses in their accounts?
-3

888naffJun. 29, 2012 - 03:34PM JST

There not as bad as some scandal and law breaking by big companies in other g7 countries...just Google the news from yesterday for example. But if judged on a world standard and not a "this would never happen back home" from some expats who have forgotten what happens back home, then the the bar of expectations is set pretty low; after all why are we in a global recession now. Anyway keep up the good work for now.
0

Paul RichardsJun. 29, 2012 - 05:43PM JST

Two faced bastards, it is time corporate executives were convicted of the fraud they commit. All to easy to walk home with cash in their pocket regardless of their value system and crime.
0

Ranger_Miffy2Jun. 29, 2012 - 06:22PM JST

No more scandals? That's nice...