Fujifilm log 37.5 billion yen loss from accounting irregularities
June 12, 2017
Tokyo- Fujifilm Holdings Corp. said Monday it incurred a cumulative loss of 37.5 billion yen from inappropriate accounting practices at overseas group units over the past few years.
The company previously estimated the cumulative loss at 22 billion yen, citing inappropriate accounting practices at a New Zealand sales unit of Fuji Xerox Co., a consolidated subsidiary of Fujifilm Holdings.
The latest figure was unveiled after Fujifilm Holdings also found similar irregular practices at an Australian sales unit of Fuji Xerox.
The overseas units were involved in inappropriate practices relating to leasing contracts for photocopiers and other products, Fujifilm Holdings officials said.
The units failed to provide for losses due to flaws in contracts, the officials said. (Jiji Press)
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