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Toshiba’s ongoing accounting scandal saga hit a significant marker last week as the independent investigative team released its final report and the company’s current president Hisao Tanaka stepped down from his post as a consequence. Joining him were the two presidents immediately prior: Vice Chairman Norio Sasaki, Tanaka’s immediate predecessor as president, and Atsutoshi Nishida, an adviser who was Sasaki’s predecessor. These three were identified as central to the company-wide efforts to manipulate earnings. They were not the only casualties – the scandal forced eight of the company’s inside directors to quit the company’s 16-member board (which includes four outside directors), with a 9th member resigning yesterday.READ MORE
Ricoh is starting a used copier business in China, collecting old copiers from Japan and shipping them to its printer plant in Fuzhou, China, for reconditioning and sale. Ricoh did not yet have a recycling business in China because replacement demand has been relatively low, but it is now seen growing.READ MORE
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