Fujifilm Accounting Irregularities Found also in Australia and Japan (say Media). Fujifilm Shares Fall more than 4% on 1 Day
Back in April, we shared the news here on FujiRumors, that Fujifilm found some accounting irregularities at Fuji Xerox New Zealand. They immediatly launched an investigation and said that the yearly earnings reports will be published later than usual.
Today the international news agency Reuters said here that, according to media reports, accounting irregularities where found also in Australia and Japan.
After these media reports, just today (June 9, 2017) Fujifilm shares fall more than 4%.
There is still no official statement of Fujifilm. All Fujifilm told us today, is that they completed the investigations and on their website here they promised to release the earnings reports on June 12, along with the full text of the investigation report (first in Japanese, and an English summary at a later date)
Here is the full press text of Reuters:
Fujifilm Holding’s Corp’s shares fell more than 4 percent on Friday after a media report said accounting irregularities had spread to its Australian unit and to Japan.
By 0230 GMT, Fujifilm shares were trading 3.6 percent lower at a 7-month low of 3,983 yen.
Accounting problems have been found at Fuji Xerox Australia and in Japan, the business daily Nikkei said citing a source.
Losses could reach 30 billion yen to 50 billion yen ($272 million to $453 million), Nikkei added.
The report was not based on an announcement by the company, Fujifilm said in statement issued through the Tokyo Stock Exchange.
Fujifilm had previously postponed its earnings announcement for the year ended March due to an accounting probe into questionable practice at Fuji Xerox New Zealand Ltd.
The panel, made up of outside accountants and lawyers, will report its findings to the company on Saturday, Fujifilm said.
The company said it plans to announce the findings along with the delayed earnings release on June 12.