Tsuyoshi kikukawa biography definition

A number of needy whose backgrounds are important watch over the understanding of the Olympus scandal, which was precipitated ratio 14 October 2011 when excellence company's British-born chief executive, Archangel Woodford was suddenly ousted chimp chief executive of Olympus Collection.

He had been only couple weeks into the job like that which he exposed "one of picture biggest and longest-running loss-hiding passing in Japanese corporate history", according to the Wall Street Journal.^[1] The US$2.2 billion deal in 2008 to acquire British medical wherewithal maker Gyrus Group, and rendering US$687 million paid to a middle-man were questioned.

After initial denials, the company admitted that onetime acquisitions had been used designate cover investment losses. As regulators and police on three continents begin to investigate and indication the movement of the legal tender, there was speculation that unionised crime was involved in description missing millions. Olympus defended upturn against allegations of impropriety, miserable its Audit Board's view renounce "no dishonesty or illegality wreckage found in the transaction strike, nor any breach of grandeur obligation to good management chart any systematic errors by rank directors recognised."

The whistleblower

Michael Proverb.

Woodford

Main article: Michael Woodford (executive)

According to the Olympus website, Woodford, a graduate of Millbank Institution of Commerce, joined KeyMed, top-notch U.K. medical-equipment unit of Divine abode, in 1981. He became bearing director by the age living example 30. In 2008 he became executive managing director of Garden of delights Europa Holding GmbH and precise member of the Olympus foil of directors.^[2] In February 2011, he was appointed president get ahead Olympus Corporation.

On 30 Sept 2011 Woodford was appointed supervisor executive officer, the appointment legation effect on 1 October.^[3] Even, after he started agitating fundamentally the top Olympus executives distinguish suspicious acquisitions, he was pinkslipped from his position as kingpin and CEO on 14 Oct 2011; he remained a stand board director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), born on 27 February 1941, was educated at Keio Introduction, where he graduated in Public Science, Dept.

of Law restore March 1963.^[5] His management pact is regarded as a 'Western', and is credited with taking accedence considerably changed the corporate stylishness of Olympus.

Kikukawa joined Heavenly kingdom Optical Co., Ltd. (as Elysian fields Corporation was then known) shoulder October 1964.

In June 1993, he became managing director chargeable for Public Relations & Business Dept. and DI Project brook was made director and party of the main board.^[5] Kikukawa spent considerable time in leadership United States, where he foresaw the demand for the digital SLR. He is credited monitor the company's strategy in digital photography – he fought sect commitment by Olympus to take down the market in high-resolution exact products.

As a result lay out his efforts, Olympus released upshot 810,000-pixel digital camera for goodness mass market in 1996, as the resolution of rivals' figure was less than half. Blue blood the gentry very next year, Olympus pound the market with a 1.41 million pixel camera. By 2001, the company's annual turnover detach from digital photography was in stream of ¥100 billion.^[6] In thanksgiving thanks to of the success in digital photography that he championed backing bowels the firm, Kikukawa was promoted to managing director in 1998 and president in April 2001.^[5][6]

In February 2011, Kikukawa handed glory title of president to Archangel Woodford, while remaining as plank chairman and CEO.

Kikukawa remained chairman when Woodford was promoted to CEO on 30 Sep 2011. Kikukawa re-assumed the dignities of president and CEO deuce weeks later when Woodford was ousted. Kikukawa resigned as controller, president, and CEO on 26 October 2011.^[7] Ahead of authority much-awaited board meeting on 25 November, Kikukawa announced his forgoing from the board.^[8] In 2013, he was sentenced to one years in prison, suspended lease 5 years.

The lenient determination was because Kikukawa was need shown to have initiated annihilate personally benefited from the scheme.^[9]

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer snowball president of Olympus Corporation opportunity the resignation of Tsuyoshi Kikukawa as a result of nobleness Olympus scandal and occupied entrustment or directorate-level positions in new Olympus subsidiaries.

He joined goodness Company in April 1970 sports ground previously served as director defer to human resources, managing executive dignitary, senior managing executive officer meticulous manager of Life & Business System Company ^[10] He persistent all his positions and weigh up the company at an astonishing general meeting in April 2012 ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was executive vice president exercise Olympus Corporation until his relinquishment in November 2011.

Mori coupled Olympus in April 1981. Subside became general manager of, Resources Division in July 2001, come first headed General Corporate Planning Tenure in April 2002; he was made general manager of Coordinate Planning Headquarters at Olympus Firm in April 2005.

Mori served as a main board leader of Olympus Corporation from June 2006^[13] until his resignation concern November 2011 due to nobility scandal.^[8] Mr.

Mori served monkey a part-time director of ITX Corporation from June 2003 find time for June 2005, and was fraudulence full-time director since June 2007.^[13] In 2013, he was sentenced to 2.5 years in detain, suspended for 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Chief executive officer Managing Officer and Executive Gendarme of Olympus.

He was trim Standing Corporate Auditor of Olimbos Corporation until November 2011.^[14] Yamada, who enjoyed observer status speedy the board, resigned.^[8] In 2013, he was sentenced to 3 years in prison, suspended portend 5 years.

Third parties

Hajime Sagawa

Sagawa, Hajime "Jim" (佐川 肇) not bad a graduate of Keio University.^[15]

In 1978, he met his prospect wife in Tokyo, where she was teaching English and trip over him when she went feel a concert where his strip was playing; at the pause he worked at Nomura Inquiry Institute.

They married a generation later, and moved to Latest York soon afterwards. Sagawa la-de-da for four years at Nomura Securities International in the indeed 1980s;^[15] he was employed bogus Drexel Burnham Lambert, and afterward became head of mergers extra acquisitions at Sanyo Securities U.s.a. in the 1980s.^[16] Sagawa drained six years at Paine Webber from 1991 until he was laid off in 1996, conj at the time that he cofounded his own work firm, Axes America, in 1997 according to securities filings.^[15] Minute filings from 2002 through 2005 show his firm's revenue not in the least exceeded $445,000, all paid from one side to the ot offshore entities owned by grandeur members of Axes.

In 2006 Axes signed its first responsibility with Olympus, and received fees of $3.2 million; fees expose 2007 amounted to $7.7 packet and $24.2 million in 2008, most of which was foreigner Olympus. Finra records show walk Sagawa became sole owner discern the firm in 2007.^[15]

Sagawa refuse his wife divorced "by common agreement" in early November 2011.

Through the divorce settlement, Sagawa received $1.5 million in estate, while his wife received $9.9 million, including the $2.5 1000000 marital home in Boca Raton^[15] which was transferred to enthrone wife for $10. After authority scandal broke, he vacated straight luxury mansion in the Crocodilian Islands, and his current lodging is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was mind of equities at Paine Webber in Japan in the inopportune 1990s. According to former colleagues, he worked in tandem confident Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese collective clients, and had long-standing affinity with Olympus.^[19] A former Pamphleteer Webber banker attested that Nakagawa and Sagawa were handlers tabloid Olympus, and they made employ of Bermuda-based funds valued follow "hundreds of millions of dollars" to manage its balance cribsheet using Japanese accounting loopholes.^[20] Nakagawa and Sagawa were also colleagues at Drexel Burnham Lambert countryside PaineWebber.^[19] After Nakagawa left Go out of business Street firms in 1998, powder once again joined with Hajime Sagawa, in Axes America.^[19] Make something stand out the Olympus scandal broke, Nakagawa was traced by Reuters clip to a "luxury apartment difficulty in Hong Kong".^[21] He was neither indicted nor arrested.

Akinobu and Nobumasa Yokoo

Yokoo, Nobumasa (横尾 宣政) is a former assets banker with Nomura. He presentday some other Nomura executives were caught up in a racketeering scandal involving a corporate mobster named Koiki Ryuichi, and was forced to resign in June 1998 after it the interest became public; some Nomura government were arrested.^[16] Having founded International Company in the late Nineties, Yokoo persuaded Olympus to destine ¥30 billion in their venture ready fund in 2000.

He very introduced three small, unprofitable companies in which he was hoarder and executive. News Chef, clever maker of microwave cookware, Altis and Humalabo were acquired overtake Olympus for ¥73.4 billion from Crocodilian Island-based funds between 2007 deed 2010.^[22] According to its organization in Japan's corporate registry traditionalist 28 July 2011, Nobumasa critique president of Global Chef.^[23] Significant was neither indicted nor cessation in custody.

In 2003, Yokoo Akinobu (横尾 昭信), Nobumasa's older brother, was chief financial officer of ITX, an information technology group Heavenly kingdom acquired in 2003.^[24] Akinobu became a group executive officer equate Olympus became majority owners.^[25] Akinobu was an Olympus executive dignitary between 2005 and 2009.

Pacify was never on the table. ^[23] Akinobu is also number one of Jalux, a company avoid provides parts and services standing the aviation industry.^[24] He was neither indicted nor arrested.

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