November 27, 2019 / 10:59 AM / 16 days ago

Apple supplier Japan Display to review past accounting records

TOKYO, Nov 27 (Reuters) - Apple supplier Japan Display Inc said on Wednesday it would review its past accounting records after a former executive notified the company of past accounting fraud.

The executive, who was fired last year for embezzling about $5.3 million over four years since 2014, told the company that the top management directed the accounting fraud, Japan Display said in a statement.

The revelation comes as the cash-strapped company seeks to raise at least 50 billion yen ($460 million) through a bailout deal with Apple and other investors.

$1 = 108.64 yen Reporting by Makiko Yamazaki; editing by Jason Neely

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