Economics: Japan’s Olympus scandal
Olympus, the world-class medical instrument and digital camera maker, took part in a huge cover-up to hide massive losses from failed investments. This report demonstrates that this is a cultural issue in Japan with ineffective outside directors and company boards.
JAPAN’S Olympus scandal goes far beyond issues of ineffective corporate governance or a culture clash with a foreign CEO.
The unfolding scandal at the world-class maker of medical instruments and digital cameras with revenue of around Euros 10billion, highlights the Kaisha dilemma - the conflict between the preservation of ‘Japaneseness’ and the need for global integration.
- Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
- Also considered useful for the administrative university facilities, to better understand the possible effects of current decisions.