Print Edition - 2017-04-22  |  Money Digest

Fujifilm delays earnings report


Apr 22, 2017-

Fujifilm is delaying the release of its financial results as it probes accounting irregularities at a New Zealand unit, raising fears Japan Inc is headed for another embarrassing accounting scandal. The company said it is setting up an independent committee of outside experts to look into the “appropriateness of accounting practices” at subsidiary Fuji Xerox New Zealand. It became “necessary to review certain accounting practices at Fuji Xerox New Zealand, such as the recording and recoverability of receivables related to certain sales leasing transactions”, the company said in a statement on Thursday. Fujifilm said it would delay releasing its earnings for the just-ended fiscal year through March until an unspecified date. The results were due next week.

Published: 22-04-2017 09:18

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