Chief Correspondent, Political and General News
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Dec 21, 2011

Analysis: Abductees feud constrains Japan diplomacy with N.Korea

TOKYO (Reuters) – Japan wants China to help keep North Korea from imploding and might need U.S. defense backup if it does, but its own ability to take diplomatic initiatives is being constrained by its focus on the fate of citizens abducted by Pyongyang decades ago.

Japan, whose territory is within range of its unpredictable neighbor’s missile arsenal, has made a show of solidarity with its closest ally, the United States, since Monday’s sudden announcement that 69-year-old North Korean leader Kim Jong-il had died.

Dec 13, 2011

Deadline time as Japan’s Olympus struggles to survive

TOKYO, Dec 14 (Reuters) – Japan’s scandal-ridden
Olympus Corp faces one of its biggest challenges to
survive as an independent company on Wednesday, when it must
meet a deadline to file its second-quarter results or be
delisted from the Tokyo stock exchange.

The 92-year-old maker of cameras and medical equipment has
been engulfed by a $1.7 billion accounting fraud, one of Japan’s
worst corporate scandals, and has vowed to iron out its accounts
in the eagerly awaited filing due later in the day.

Dec 12, 2011

Little appetite in Japan for major post-Olympus reform

TOKYO (Reuters) – Japan is unlikely to make sweeping reforms to rules on corporate governance in the wake of the Olympus Corp accounting scandal because of a largely hostile business lobby and a lack of political will to clip the wings of top executives.

The $1.7 billion scheme to hide two decades of investment losses at Olympus (7733.T: Quote, Profile, Research) is one of Japan’s worst accounting frauds and highlights long-standing criticism of lax corporate governance, yet analysts say only minor reform is likely.

Dec 12, 2011

Analysis: Little appetite in Japan for major post-Olympus reform

TOKYO (Reuters) – Japan is unlikely to make sweeping reforms to rules on corporate governance in the wake of the Olympus Corp accounting scandal, as there is a largely hostile business lobby and a lack of political will to clip the wings of top executives.

Olympus’s $1.7 billion scheme to hide two decades of investment losses stands as one of Japan’s worst accounting frauds and highlights long-standing criticism of lax corporate governance, yet analysts say only minor reform is likely.

Dec 8, 2011

Japan mulls $13 billion Fukushima bailout

TOKYO (Reuters) – The Japanese government may inject about $13 billion into Tokyo Electric Power Co (9501.T: Quote, Profile, Research) as early as next summer in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, sources said on Thursday.

Tepco’s future as an independent firm has been in doubt since an earthquake and tsunami wrecked the plant in March, triggering the world’s worst nuclear crisis in 25 years and leaving it with huge compensation payments and clean-up costs.

Dec 8, 2011

Japan “mulls $13-19 bln bailout” of nuclear operator

TOKYO, Dec 8 (Reuters) – The Japanese government may
inject between $13 billion and $19 billion into Tokyo Electric
Power Co in a de facto nationalisation of the operator
of the crippled Fukushima nuclear power plant, domestic media
reported on Thursday.

Tepco’s future as an independent firm has been in doubt
since an earthquake and tsunami wrecked the plant in March,
triggering the world’s worst nuclear crisis in 25 years and
leaving it with huge compensation payments and clean-up costs.

Dec 6, 2011

Panel finds no evidence of organised crime in Olympus scandal

TOKYO (Reuters) – An investigative panel has found no link to organised crime in the accounting scandal at Japan’s Olympus Corp (7733.T: Quote, Profile, Research) and has blamed two former executives for cooking its books over the past 13 years, Jiji news agency said on Tuesday.

Jiji, revealing the panel’s findings just minutes before their scheduled release at 0600 GMT, said former executive vice president Hisashi Mori and ex-internal auditor Hideo Yamada had crafted a scheme as long ago as 1998 to hide investment losses.

Dec 6, 2011

Olympus shares surge as moment of truth approaches

TOKYO (Reuters) – Shares in Japan’s disgraced Olympus Corp surged on Tuesday as investors bet that a probe into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being delisted.

An outside investigative panel, which has spent the past month trying to get to the bottom of one of Japan’s worst accounting scandals, is due to present its findings at 6 a.m. British time on Tuesday, though they could be released before then.

Dec 6, 2011

Olympus shares surge as moment of truth approaches

TOKYO (Reuters) – Shares in Japan’s disgraced Olympus Corp surged Tuesday as investors bet that a probe into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being delisted.

An outside investigative panel, which has spent the past month trying to get to the bottom of one of Japan’s worst accounting scandals, is due to present its findings at 0600 GMT Tuesday, though they could be released before then.

Dec 6, 2011

Japan’s Olympus shares surge as moment of truth approaches

TOKYO (Reuters) – Shares in Japan’s disgraced Olympus Corp surged Tuesday as investors bet that a probe into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being delisted.

An outside investigative panel, which has spent the past month trying to get to the bottom of one of Japan’s worst accounting scandals, is due to present its findings at 0600 GMT Tuesday, though they could be released before then.

    • About Linda

      "I direct a team of reporters responsible for covering politics, diplomacy, social and security policies in the world's second-biggest economy, as well as natural disasters, entertainment and lifestyle trends. I have been in my current position since April 1999 and prior to that was Chief Economics Correspondent, Japan."
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