Fujifilm-Xerox Venture Ousts Executives Over Accounting Trouble -
By JONATHAN SOBLEJUNE 12, 2017
TOKYO — Fuji Xerox, the Japan-based joint venture between Xerox and Fujifilm Holdings, said on Monday
that its chairman and three other executives were stepping down over accounting problems discovered at its operations in Australia and New Zealand.
A committee of lawyers and accounting specialists hired by the company concluded
that the managers had overstated revenue by 37.5 billion yen, or about $340 million, in the five years through 2016, Fujifilm said on Monday.
Kenji Sukeno, president and chief operating officer of Fujifilm Holdings, which owns 75 percent of Fuji Xerox, bowed
and apologized at a news conference along with other Fujifilm executives.
