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Olympus arrests prove Japan needs corp cleanup, Woodford says

Thursday, Feb 16, 2012 - 01:42

Feb. 16 - As Tokyo prosecutors arrest seven men linked to fraud at Olympus, ousted company boss Michael Woodford says corporate Japan as a whole needs to put its house in order.

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The scandal to Olympus seems to be approaching the end game. Japanese prosecutors arrested seven men in total Thursday including -- complete Preston senior should he could -- The set when held over the roles in a one point seven billion dollars -- for the technology firm. The scandal -- the lights when then chief execs to Michael would put queried some devious takeover deals conducted by the company. That's a news conference in London today with that said the -- still left a lot of questions on all -- Today does demonstrate that there is a seriousness in Japan to investigate what has happened. There are still many. Important issues which are not covered by today's announcements. Just leave them banks these are huge amounts of money and we need to on this end to what extent the banks were involved. What for it was a -- foreign CEO in Japan. Now attention turns to finding a new -- for the company. Likely candidates include three people members that's an investigative panel says it wasn't involved in the force. Whoever is chosen would that says corporate Japan as a whole needs to clean up its act. Transparency. And openness is the most important thing. In ensuring this tale. I don't its tentacles. Is Kurdish enclaves in the right way. The future for Olympus remains uncertain. But it's lucrative medical and the scope business means it could become a takeover targets. Sodium Fujifilm I mentioned as possible bias but any potential suitable for us want to see that the company has put a troubled past behind it. -- -- --

Olympus arrests prove Japan needs corp cleanup, Woodford says

Thursday, Feb 16, 2012 - 01:42

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