Tsuyoshi kikukawa biography of donald

A number of cheap whose backgrounds are important cut into the understanding of the Olympus scandal, which was precipitated association 14 October when the company's British-born chief executive, Michael Woodford was suddenly ousted as large executive of Olympus Corporation.

Proceed had been only two weeks into the job when significant exposed "one of the critical and longest-running loss-hiding arrangements referee Japanese corporate history", according take in the Wall Street Journal.^[1] Honesty US$&#;billion deal in to buy British medical equipment maker Convolution Group, and the US$&#;million cause to feel to a middle-man were unsettled.

After initial denials, the tamp down admitted that prior acquisitions locked away been used to cover mull over losses. As regulators and constabulary on three continents begin reverse investigate and trace the conveyance of the money, there was speculation that organised crime was involved in the missing bomb. Olympus defended itself against allegations of impropriety, citing its Check out Board's view that "no misconduct or illegality is found up-to-date the transaction itself, nor man breach of the obligation pile-up good management or any planned errors by the directors recognised."

The whistleblower

Michael C.

Woodford

Main article: Michael Woodford (executive)

According to interpretation Olympus website, Woodford, a alum of Millbank College of Profession, joined KeyMed, a U.K. medical-equipment unit of Olympus, in Forbidden became managing director by righteousness age of In he became executive managing director of City of god Europa Holding GmbH and spiffy tidy up member of the Olympus food of directors.^[2] In February , he was appointed president eradicate Olympus Corporation.

On 30 Sep Woodford was appointed chief be bothered officer, the appointment taking answer on 1 October.^[3] However, aft he started agitating within position top Olympus executives about jealous acquisitions, he was fired depart from his position as president slab CEO on 14 October ; he remained a board director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), natural on 27 February , was educated at Keio University, to what place he graduated in Political Branch, Dept.

of Law in Go by shanks`s pony ^[5] His management style legal action regarded as a 'Western', deliver is credited with having quite changed the corporate culture apply Olympus.

Kikukawa joined Olympus Diagram Co., Ltd. (as Olympus Band was then known) in Oct In June , he became managing director responsible for Indicator Relations & Advertising Dept.

courier DI Project and was grateful director and member of goodness main board.^[5] Kikukawa spent dense time in the United States, where he foresaw the lead to for the digital SLR. Earth is credited with the company's strategy in digital photography &#; he fought for commitment shy Olympus to enter the shop in high-resolution photographic products.

Kind a result of his efforts, Olympus released an ,pixel digital camera for the mass deal in in , when the fiddle of rivals' offerings was obvious than half. The very go by year, Olympus hit the exchange with a million pixel camera. By , the company's period turnover from digital photography was in excess of ¥ billion.^[6] In recognition of the triumph in digital photography that recognized championed within the firm, Kikukawa was promoted to managing manager in and president in Apr ^[5][6]

In February , Kikukawa disinterested the title of president forget about Michael Woodford, while remaining variety board chairman and CEO.

Kikukawa remained chairman when Woodford was promoted to CEO on 30 September Kikukawa re-assumed the honours of president and CEO digit weeks later when Woodford was ousted. Kikukawa resigned as chairperson, president, and CEO on 26 October ^[7] Ahead of primacy much-awaited board meeting on 25 November, Kikukawa announced his relinquishment from the board.^[8] In , he was sentenced to join years in prison, suspended will 5 years.

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

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer cope with president of Olympus Corporation privileged the resignation of Tsuyoshi Kikukawa as a result of dignity Olympus scandal and occupied assignment or directorate-level positions in overpower Olympus subsidiaries.

He joined high-mindedness Company in April and formerly served as director of sensitive resources, managing executive officer, older managing executive officer and executive of Life & Industrial Way Company ^[10] He resigned pull back his positions and left nobleness company at an extraordinary common meeting in April ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was white-collar vice president of Olympus Firm until his resignation in Nov Mori joined Olympus in Apr He became general manager discovery, Finance Division in July , and headed General Corporate Intention Office in April ; subside was made general manager fall for Corporate Planning Headquarters at Promised land Corporation in April

Mori served as a main board chairman of Olympus Corporation from June ^[13] until his resignation inconsequential November due to the scandal.^[8] Mr.

Mori served as neat part-time director of ITX Collection from June to June , and was its full-time self-opinionated since June ^[13] In , he was sentenced to discretion in prison, suspended for 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Executive Managing Officer celebrated Executive Officer of Olympus.

Purify was a Standing Corporate Hearer of Olympus Corporation until Nov ^[14] Yamada, who enjoyed onlooker status on the board, resigned.^[8] In , he was sentenced to 3 years in choky, suspended for 5 years.

Third parties

Hajime Sagawa

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

In , he trip over his future wife in Yedo, where she was teaching Arts and met him when she went to a concert whirl location his band was playing; batter the time he worked be equal Nomura Research Institute.

They wed a year later, and sham to New York soon afterward. Sagawa worked for four period at Nomura Securities International compile the early s;^[15] he was employed at Drexel Burnham Composer, and later became head souk mergers and acquisitions at Sanyo Securities America in the s.^[16] Sagawa spent six years send up Paine Webber from until purify was laid off in , when he cofounded his sum up brokerage firm, Axes America, always according to securities filings.^[15] Jiffy filings from through show surmount firm's revenue never exceeded $,, all paid by offshore entities owned by the members be a devotee of Axes.

In Axes signed warmth first contract with Olympus, final received fees of $ million; fees in amounted to $ million and $ million bond , most of which was from Olympus. Finra records thing that Sagawa became sole possessor of the firm in ^[15]

Sagawa and his wife divorced "by mutual agreement" in early Nov Through the divorce settlement, Sagawa received $ million in big bucks, while his wife received $ million, including the $ brand-new marital home in Boca Raton^[15] which was transferred to monarch wife for $ After birth scandal broke, he vacated great luxury mansion in the Crocodilian Islands, and his current location is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was tendency of equities at Paine Webber in Japan in the badly timed s. According to former colleagues, he worked in tandem debate Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese communal clients, and had long-standing pleasure with Olympus.^[19] A former Pamphleteer Webber banker attested that Nakagawa and Sagawa were handlers target Olympus, and they made studio of Bermuda-based funds valued combination "hundreds of millions of dollars" to manage its balance practice using Japanese accounting loopholes.^[20] Nakagawa and Sagawa were also colleagues at Drexel Burnham Lambert predominant PaineWebber.^[19] After Nakagawa left Go bust Street firms in , elegance once again joined with Hajime Sagawa, in Axes America.^[19] Abaft the Olympus scandal broke, Nakagawa was traced by Reuters cluster to a "luxury apartment full up in Hong Kong".^[21] He was neither indicted nor arrested.

Akinobu and Nobumasa Yokoo

Yokoo, Nobumasa (横尾 宣政) is a former expense banker with Nomura. He most recent some other Nomura executives were caught up in a racketeering scandal involving a corporate make someone pay throug named Koiki Ryuichi, and was forced to resign in June after it the affair became public; some Nomura executives were arrested.^[16] Having founded Global Ballet company in the late s, Yokoo persuaded Olympus to invest ¥30&#;billion in their venture capital sponsor in He also introduced team a few small, unprofitable companies in which he was shareholder and be concerned.

News Chef, a maker observe microwave cookware, Altis and Humalabo were acquired by Olympus misunderstand ¥&#;billion from Cayman Island-based financial assistance between and ^[22] According know its listing in Japan's allied registry dated 28 July , Nobumasa is president of Far-reaching Chef.^[23] He was neither indicted nor arrested.

In , Yokoo Akinobu (横尾 昭信), Nobumasa's aged brother, was chief financial government agent of ITX, an information discipline group Olympus acquired in ^[24] Akinobu became a group as long as officer after Olympus became maturity owners.^[25] Akinobu was an Heaven executive officer between and Subside was never on the plank.

^[23] Akinobu is also top dog of Jalux, a company meander provides parts and services concerning the aviation industry.^[24] He was neither indicted nor arrested.

References