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Fujifilm's bogus accounting leads to bigger-than-expected losses

( June 12, 2017, 04:19 GMT | Official Statement) -- MLex Summary: Fujifilm Holdings says inappropriate accounting practices at overseas subsidiaries have resulted in losses of 37.5 billion yen ($341 million), compared with an earlier estimate of 22 billion yen. The company, which in April announced the establishment of an outside panel to investigate a sales subsidiary in New Zealand, has found that a unit in Australia was also involved in dubious accounting practices. The company said at the time that its losses were probably 22 billion yen. The statement, in Japanese, is attached. ...

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