Arab Today, arab today exolympus head woodford to meet japan investigators
Last Updated : GMT 13:50:14
Arab Today, arab today
Arab Today, arab today

Ex-Olympus head Woodford to meet Japan investigators

Arab Today, arab today

Arab Today, arab today Ex-Olympus head Woodford to meet Japan investigators

Tokyo - AFP

The ousted chief of scandal-hit Olympus, Michael Woodford, will meet with Japanese investigators on Thursday over a cover-up of the company\'s massive investment losses dating back to the 1990s. The Briton, who blew the whistle on the scandal at the camera and medical equipment maker, also plans to attend the company board meeting Friday to push for deeper investigation into the mismanagement involving billions of dollars. \"I do believe that Japanese authorities will and are taking it seriously, and that the whole truth will come out and not just part of the truth,\" Woodford told reporters after arriving at Narita airport Wednesday evening. \"Olympus\' story has many tentacles. It\'s like an octopus. And for Olympus to move forward, all these tentacles should be examined and questioned,\" he said. Woodford will meet with prosecutors, police and government regulators over Olympus\' overpayments in a series of acquisition deals, which have also prompted investigations by British and US authorities. He will also address the international press later in the day. \"I am not afraid of challenging my board members as to what has happened,\" Woodford -- who remains on Olympus\' board -- told a press conference in London on Monday. \"I want the truth to come out. I am encouraged that so many people in Japan really understand and care for this issue,\" he said.  He is in Japan for the first time since Olympus abruptly stripped him of his title on October 14, only six months after appointing him its first ever non-Japanese president and two weeks after he was also named chief executive. Olympus said at the time that Woodford was ousted because of cultural differences -- despite his 30-year career with the group. But Woodford has contended that he was sacked because he questioned the acquisitions and enormous  fees to little-known consultants based in the Cayman Islands, and because of his calls to the then chairman to resign. Olympus originally defended its past deals, only to eventually admit that it funnelled funds through the corporate purchases to cover up losses it made on bad investments during the 1990s. Local media have reported that the losses may total more than 100 billion yen ($1.3 billion). But the company has yet to disclose details, citing a probe by an outside panel commissioned by its board. Britain\'s Serious Fraud Office has also launched an investigation, along with those under way by Japanese and other international agencies amid media speculation that Yakuza crime syndicates may be involved in the scandal. After his meetings in Japan, Woodford will travel to the United States for talks with US authorities investigating Olympus. Olympus\' actions have prompted a massive sell-off of its shares, which have lost some 75 percent of its value since Woodford was demoted. Its stock has been placed on the Tokyo Stock Exchange\'s watch list for possible delisting. The company will be removed from the index if the company fails to report by December 14 -- a move that would effectively wipe out the value of its shares and could trigger investor lawsuits. Major shareholders and retired employees of Olympus have called for Woodford\'s reinstatement.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exolympus head woodford to meet japan investigators Arab Today, arab today exolympus head woodford to meet japan investigators

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday