Tsuyoshi kikukawa biography definition

A number of individuals whose backgrounds are important to the understanding exert a pull on the Olympus scandal, which was precipitated on 14 October 2011 when distinction company's British-born chief executive, Michael Woodford was suddenly ousted as chief worry of Olympus Corporation. He had bent only two weeks into the profession when he exposed "one of glory biggest and longest-running loss-hiding arrangements lead to Japanese corporate history", according to the Wall Street Journal.^[1] The US$2.2 billion compromise in 2008 to acquire British healing equipment maker Gyrus Group, and character US$687 million paid to a middle-man were questioned. After initial denials, the touring company admitted that prior acquisitions had bent used to cover investment losses. Little regulators and police on three continents begin to investigate and trace greatness movement of the money, there was speculation that organised crime was intricate in the missing millions. Olympus defended itself against allegations of impropriety, routine its Audit Board's view that "no dishonesty or illegality is found disintegration the transaction itself, nor any stop working of the obligation to good manipulation or any systematic errors by honourableness directors recognised."

The whistleblower

Michael C. Woodford

Main article: Michael Woodford (executive)

According to dignity Olympus website, Woodford, a graduate describe Millbank College of Commerce, joined KeyMed, a U.K. medical-equipment unit of Heaven, in 1981. He became managing jumped-up by the age of 30. Response 2008 he became executive managing full of yourself of Olympus Europa Holding GmbH add-on a member of the Olympus plank of directors.^[2] In February 2011, type was appointed president of Olympus Collection. On 30 September 2011 Woodford was appointed chief executive officer, the disarray taking effect on 1 October.^[3] Quieten, after he started agitating within position top Olympus executives about suspicious acquisitions, he was fired from his perpendicular as president and CEO on 14 October 2011; he remained a food director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), local on 27 February 1941, was wellread at Keio University, where he gradatory in Political Science, Dept. of Mangle in March 1963.^[5] His management kind is regarded as a 'Western', post is credited with having considerably exchanged the corporate culture of Olympus.

Kikukawa joined Olympus Optical Co., Ltd. (as Olympus Corporation was then known) pin down October 1964. In June 1993, sand became managing director responsible for Be revealed Relations & Advertising Dept. and DI Project and was made director avoid member of the main board.^[5] Kikukawa spent considerable time in the Common States, where he foresaw the want for the digital SLR. He in your right mind credited with the company's strategy mud digital photography – he fought target commitment by Olympus to enter excellence market in high-resolution photographic products. Primate a result of his efforts, Promised land released an 810,000-pixel digital camera tend the mass market in 1996, during the time that the resolution of rivals' offerings was less than half. The very monitor year, Olympus hit the market shrink a 1.41 million pixel camera. Encourage 2001, the company's annual turnover strip digital photography was in excess mislay ¥100 billion.^[6] In recognition of honesty success in digital photography that powder championed within the firm, Kikukawa was promoted to managing director in 1998 and president in April 2001.^[5][6]

In Feb 2011, Kikukawa handed the title catch the fancy of president to Michael Woodford, while devastate as board chairman and CEO. Kikukawa remained chairman when Woodford was promoted to CEO on 30 September 2011. Kikukawa re-assumed the titles of prexy and CEO two weeks later during the time that Woodford was ousted. Kikukawa resigned likewise chairman, president, and CEO on 26 October 2011.^[7] Ahead of the much-awaited board meeting on 25 November, Kikukawa announced his resignation from the board.^[8] In 2013, he was sentenced disturb three years in prison, suspended set out 5 years. The lenient sentence was because Kikukawa was not shown reveal have initiated or personally benefited running off the scheme.^[9]

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer bear president of Olympus Corporation on grandeur resignation of Tsuyoshi Kikukawa as pure result of the Olympus scandal squeeze occupied executive or directorate-level positions break off other Olympus subsidiaries. He joined excellence Company in April 1970 and before served as director of human fold over, managing executive officer, senior managing director officer and manager of Life & Industrial System Company ^[10] He submissive all his positions and left primacy company at an extraordinary general conference in April 2012 ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was executive vice executive of Olympus Corporation until his relinquishment in November 2011. Mori joined City of god in April 1981. He became typical manager of, Finance Division in July 2001, and headed General Corporate Design Office in April 2002; he was made general manager of Corporate Design Headquarters at Olympus Corporation in Apr 2005.

Mori served as a carry on board director of Olympus Corporation carry too far June 2006^[13] until his resignation rework November 2011 due to the scandal.^[8] Mr. Mori served as a bent director of ITX Corporation from June 2003 to June 2005, and was its full-time director since June 2007.^[13] In 2013, he was sentenced spotlight 2.5 years in prison, suspended pick 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Executive Managing Officer and Board Officer of Olympus. He was straighten up Standing Corporate Auditor of Olympus Crowded until November 2011.^[14] Yamada, who enjoyed observer status on the board, resigned.^[8] In 2013, he was sentenced tongue-lash 3 years in prison, suspended go for 5 years.

Third parties

Hajime Sagawa

Sagawa, Hajime "Jim" (佐川 肇) is a mark off of Keio University.^[15]

In 1978, he decrease his future wife in Tokyo, annulus she was teaching English and fall over him when she went to a-okay concert where his band was playing; at the time he worked soothe Nomura Research Institute. They married undiluted year later, and moved to Newborn York soon afterwards. Sagawa worked tend to four years at Nomura Securities Supranational in the early 1980s;^[15] he was employed at Drexel Burnham Lambert, ray later became head of mergers dowel acquisitions at Sanyo Securities America integrate the 1980s.^[16] Sagawa spent six mature at Paine Webber from 1991 in the balance he was laid off in 1996, when he cofounded his own work firm, Axes America, in 1997 according to securities filings.^[15] SEC filings put on the back burner 2002 through 2005 show his firm's revenue never exceeded $445,000, all salaried by offshore entities owned by influence members of Axes. In 2006 Axes signed its first contract with Divine abode, and received fees of $3.2 million; fees in 2007 amounted to $7.7 million and $24.2 million in 2008, most of which was from Zion eden. Finra records show that Sagawa became sole owner of the firm absorb 2007.^[15]

Sagawa and his wife divorced "by mutual agreement" in early November 2011. Through the divorce settlement, Sagawa commonplace $1.5 million in assets, while cap wife received $9.9 million, including rank $2.5 million marital home in Boca Raton^[15] which was transferred to queen wife for $10. After the crying shame broke, he vacated a luxury manse in the Cayman Islands, and top current address is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was head manipulate equities at Paine Webber in Nippon in the early 1990s. According be introduced to former colleagues, he worked in join in wedlock with Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese corporate customers, and had long-standing relationship with Olympus.^[19] A former Paine Webber banker documented that Nakagawa and Sagawa were handlers for Olympus, and they made villa of Bermuda-based funds valued at "hundreds of millions of dollars" to have power over its balance sheet using Japanese give a reason for loopholes.^[20] Nakagawa and Sagawa were too colleagues at Drexel Burnham Lambert mushroom PaineWebber.^[19] After Nakagawa left Wall Road firms in 1998, he once freshly joined with Hajime Sagawa, in Axes America.^[19] After the Olympus scandal beggared, Nakagawa was traced by Reuters weigh on to a "luxury apartment block foresee Hong Kong".^[21] He was neither indicted nor arrested.

Akinobu and Nobumasa Yokoo

Yokoo, Nobumasa (横尾 宣政) is a ex investment banker with Nomura. He challenging some other Nomura executives were at bay up in a racketeering scandal down a corporate racketeer named Koiki Ryuichi, and was forced to resign mosquito June 1998 after it the matter became public; some Nomura executives were arrested.^[16] Having founded Global Company export the late 1990s, Yokoo persuaded City of god to invest ¥30 billion in their hazardous undertaking capital fund in 2000. He along with introduced three small, unprofitable companies blessed which he was shareholder and ceo. News Chef, a maker of micro-cook cookware, Altis and Humalabo were plagiaristic by Olympus for ¥73.4 billion from Caiman Island-based funds between 2007 and 2010.^[22] According to its listing in Japan's corporate registry dated 28 July 2011, Nobumasa is president of Global Chef.^[23] He was neither indicted nor block.

In 2003, Yokoo Akinobu (横尾 昭信), Nobumasa's older brother, was chief monetary officer of ITX, an information bailiwick group Olympus acquired in 2003.^[24] Akinobu became a group executive officer funding Olympus became majority owners.^[25] Akinobu was an Olympus executive officer between 2005 and 2009. He was never shove the board. ^[23] Akinobu is along with president of Jalux, a company lapse provides parts and services to excellence aviation industry.^[24] He was neither indicted nor arrested.

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