Economics: Japan’s Olympus scandal

Olympus at the centre of a scandal (photo:dpa)
Olympus at the centre of a scandal (photo:dpa)

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.

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