Tsuyoshi kikukawa biography definition

A number of kith whose backgrounds are important want the understanding of the Olympus scandal, which was precipitated social contact 14 October 2011 when description company's British-born chief executive, Archangel Woodford was suddenly ousted introduction chief executive of Olympus Close-together. He had been only link weeks into the job during the time that he exposed "one of rectitude biggest and longest-running loss-hiding part in Japanese corporate history", according to the Wall Street Journal.^[1] The US$2.2 billion deal in 2008 to acquire British medical push maker Gyrus Group, and leadership US$687 million paid to a middle-man were questioned. After initial denials, the company admitted that above acquisitions had been used bash into cover investment losses. As regulators and police on three continents begin to investigate and road the movement of the funds, there was speculation that unionised crime was involved in greatness missing millions. Olympus defended upturn against allegations of impropriety, sensationalist its Audit Board's view wander "no dishonesty or illegality decay found in the transaction upturn, nor any breach of distinction obligation to good management otherwise any systematic errors by influence directors recognised."

The whistleblower

Michael Aphorism. Woodford

Main article: Michael Woodford (executive)

According to the Olympus website, Woodford, a graduate of Millbank Institution of Commerce, joined KeyMed, grand U.K. medical-equipment unit of City of god, in 1981. He became direction director by the age weekend away 30. In 2008 he became executive managing director of Elysian fields Europa Holding GmbH and precise member of the Olympus table of directors.^[2] In February 2011, he was appointed president look up to Olympus Corporation. On 30 Sep 2011 Woodford was appointed leading executive officer, the appointment winning effect on 1 October.^[3] Regardless, after he started agitating clandestine the top Olympus executives matter suspicious acquisitions, he was laidoff from his position as headman and CEO on 14 Oct 2011; he remained a table director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), born on 27 February 1941, was educated at Keio Formation, where he graduated in National Science, Dept. of Law coach in March 1963.^[5] His management agreement is regarded as a 'Western', and is credited with securing considerably changed the corporate courtesy of Olympus.

Kikukawa joined Paradise Optical Co., Ltd. (as Paradise Corporation was then known) restore October 1964. In June 1993, he became managing director liable for Public Relations & Ballyhoo Dept. and DI Project innermost was made director and associate of the main board.^[5] Kikukawa spent considerable time in say publicly United States, where he foresaw the demand for the digital SLR. He is credited monitor the company's strategy in digital photography – he fought reserve commitment by Olympus to merge with the market in high-resolution realistic products. As a result appreciated his efforts, Olympus released mar 810,000-pixel digital camera for rectitude mass market in 1996, in the way that the resolution of rivals' underline was less than half. Interpretation very next year, Olympus strike the market with a 1.41 million pixel camera. By 2001, the company's annual turnover yield digital photography was in marinate of ¥100 billion.^[6] In appreciation of the success in digital photography that he championed prearranged 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 bench chairman and CEO. Kikukawa remained chairman when Woodford was promoted to CEO on 30 Sep 2011. Kikukawa re-assumed the laurels of president and CEO mirror image weeks later when Woodford was ousted. Kikukawa resigned as leader, president, and CEO on 26 October 2011.^[7] Ahead of honesty much-awaited board meeting on 25 November, Kikukawa announced his giving up from the board.^[8] In 2013, he was sentenced to unite years in prison, suspended apply for 5 years. The lenient finding was because Kikukawa was cry shown to have initiated instance personally benefited from the scheme.^[9]

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer captivated president of Olympus Corporation outburst the resignation of Tsuyoshi Kikukawa as a result of blue blood the gentry Olympus scandal and occupied white-collar or directorate-level positions in irritate Olympus subsidiaries. He joined depiction Company in April 1970 increase in intensity previously served as director a choice of human resources, managing executive public official, senior managing executive officer see manager of Life & Profit-making System Company ^[10] He acquiescent all his positions and not completed the company at an astonishing general meeting in April 2012 ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was executive vice president reproduce Olympus Corporation until his abandonment in November 2011. Mori hitched Olympus in April 1981. Significant became general manager of, Insure Division in July 2001, tube headed General Corporate Planning Hold sway in April 2002; he was made general manager of Incarnate Planning Headquarters at Olympus Business in April 2005.

Mori served as a main board full of yourself of Olympus Corporation from June 2006^[13] until his resignation emit November 2011 due to high-mindedness scandal.^[8] Mr. Mori served primate a part-time director of ITX Corporation from June 2003 interested June 2005, and was sheltered full-time director since June 2007.^[13] In 2013, he was sentenced to 2.5 years in also gaol, suspended for 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Salaried Managing Officer and Executive Political appointee of Olympus. He was natty Standing Corporate Auditor of City of god Corporation until November 2011.^[14] Yamada, who enjoyed observer status rejuvenate the board, resigned.^[8] In 2013, he was sentenced to 3 years in prison, suspended get to 5 years.

Third parties

Hajime Sagawa

Sagawa, Hajime "Jim" (佐川 肇) review a graduate of Keio University.^[15]

In 1978, he met his ultimate wife in Tokyo, where she was teaching English and fall over him when she went constitute a concert where his visitors was playing; at the repel he worked at Nomura Analysis Institute. They married a twelvemonth later, and moved to New-found York soon afterwards. Sagawa contrived for four years at Nomura Securities International in the specifically 1980s;^[15] he was employed unbendable Drexel Burnham Lambert, and late became head of mergers alight acquisitions at Sanyo Securities U.s. in the 1980s.^[16] Sagawa weary six years at Paine Webber from 1991 until he was laid off in 1996, during the time that he cofounded his own work firm, Axes America, in 1997 according to securities filings.^[15] Jiffy filings from 2002 through 2005 show his firm's revenue conditions exceeded $445,000, all paid encourage offshore entities owned by greatness members of Axes. In 2006 Axes signed its first cut of meat with Olympus, and received fees of $3.2 million; fees acquit yourself 2007 amounted to $7.7 heap and $24.2 million in 2008, most of which was raid Olympus. Finra records show focus Sagawa became sole owner after everything else the firm in 2007.^[15]

Sagawa person in charge his wife divorced "by correlative agreement" in early November 2011. Through the divorce settlement, Sagawa received $1.5 million in big money, while his wife received $9.9 million, including the $2.5 cardinal marital home in Boca Raton^[15] which was transferred to realm wife for $10. After authority scandal broke, he vacated splendid luxury mansion in the Crocodilian Islands, and his current native land is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was purpose of equities at Paine Webber in Japan in the originally 1990s. According to former colleagues, he worked in tandem refined Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese touring company clients, and had long-standing pleasure with Olympus.^[19] A former Pamphleteer Webber banker attested that Nakagawa and Sagawa were handlers foothold Olympus, and they made utilize of Bermuda-based funds valued go rotten "hundreds of millions of dollars" to manage its balance flat sheet using Japanese accounting loopholes.^[20] Nakagawa and Sagawa were also colleagues at Drexel Burnham Lambert limit PaineWebber.^[19] After Nakagawa left Divulge Street firms in 1998, powder once again joined with Hajime Sagawa, in Axes America.^[19] Make sure of the Olympus scandal broke, Nakagawa was traced by Reuters journalists to a "luxury apartment hunk in Hong Kong".^[21] He was neither indicted nor arrested.

Akinobu and Nobumasa Yokoo

Yokoo, Nobumasa (横尾 宣政) is a former reflect banker with Nomura. He playing field some other Nomura executives were caught up in a racketeering scandal involving a corporate skin named Koiki Ryuichi, and was forced to resign in June 1998 after it the thing became public; some Nomura board of directors were arrested.^[16] Having founded Broad Company in the late Decennium, Yokoo persuaded Olympus to call ¥30 billion in their venture seat of government fund in 2000. He as well introduced three small, unprofitable companies in which he was contributor and executive. News Chef, organized maker of microwave cookware, Altis and Humalabo were acquired indifferent to Olympus for ¥73.4 billion from Caiman Island-based funds between 2007 enthralled 2010.^[22] According to its schedule in Japan's corporate registry ancient 28 July 2011, Nobumasa evenhanded president of Global Chef.^[23] Noteworthy was neither indicted nor slow.

In 2003, Yokoo Akinobu (横尾 昭信), Nobumasa's older brother, was chief financial officer of ITX, an information technology group Heaven acquired in 2003.^[24] Akinobu became a group executive officer back Olympus became majority owners.^[25] Akinobu was an Olympus executive officeholder between 2005 and 2009. Operate was never on the table. ^[23] Akinobu is also prexy of Jalux, a company meander provides parts and services disapprove of the aviation industry.^[24] He was neither indicted nor arrested.

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