Earthquake, nuclear crisis, car industry in turmoil after flooding in Thailand, over supply in electronic industry, Yen keeps increasing, and now corporate governance issue.
A very bad year for Nippon.
Wednesday, November 9, 2011
Olympus Urged to Extend Executive Purge Over Hidden Losses
Yesterday’s plunge in Olympus shares pulled other Japanese equities lower on concerns the country hasn’t escaped corporate governance weaknesses that have dogged it since the stock market bubble burst at the end of 1989. Olympus shares have lost 76 percent of their value since Woodford took his accusations public after he was axed on Oct. 14.
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