Chief Correspondent, Political and General News
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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.

Dec 4, 2011

Analysis: Japan’s silent majority may find its voice over

TOKYO (Reuters) – Some big Japanese shareholders in disgraced firm Olympus Corp may support ex-CEO Michael Woodford’s campaign to return to the helm — a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach.

Experts say that outcome, though still uncertain, would be a rare case of activism and mark a big attitude change for domestic financial institutions which traditionally hold shares to cement business ties and prefer to avoid public battles.

Dec 2, 2011

Analysis: Japan’s silent majority may find voice over Olympus

TOKYO (Reuters) – Some big Japanese shareholders in disgraced firm Olympus Corp (7733.T: Quote, Profile, Research, Stock Buzz) may support ex-CEO Michael Woodford’s campaign to return to the helm — a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach.

Experts say that outcome, though still uncertain, would be a rare case of activism and mark a big attitude change for domestic financial institutions which traditionally hold shares to cement business ties and prefer to avoid public battles.

Dec 2, 2011

Analysis – Silent majority may find its voice over Olympus

TOKYO (Reuters) – Some big Japanese shareholders in disgraced firm Olympus Corp (7733.T: Quote, Profile, Research) may support ex-CEO Michael Woodford’s campaign to return to the helm — a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach.

Experts say that outcome, though still uncertain, would be a rare case of activism and mark a big attitude change for domestic financial institutions which traditionally hold shares to cement business ties and prefer to avoid public battles.

    • 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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