Fujifilm shares down after reports of accounting problems
Reuters reports that Fujifilm's shares fell after media reports of accounting problems found in Australia and Japan:
"Accounting problems have been found at Fuji Xerox Australia and in Japan, the business daily Nikkei said citing a source. Losses could reach 30 billion yen to 50 billion yen ($272 million to $453 million), Nikkei added. Fujifilm had previously postponed its earnings announcement for the year ended March due to an accounting probe into questionable practice at Fuji Xerox New Zealand Ltd."
The first Fujifilm accounting problems were reported back in April:
- Fujifilm delays earnings over NZ unit accounting problems
- Fujifilm delays earnings citing accounting issues
Fujifilm started an investigation into the matter.