Associated Press
Posted on December 14, 2011 at 8:05 PM
Updated today at 11:02 PM
TOKYO (AP) ? Olympus President Shuichi Takayama has apologized again for an accounting scandal and said the company is taking steps to reform its management, governance and compliance.
Takayama and several other executives stood at a press conference Thursday and bowed deeply.
He confirmed that the company submitted corrected earnings reports on Wednesday for the past five fiscal years as well as the April-September results.
By filing Wednesday, Olympus met a deadline to avoid being removed from the Tokyo Stock Exchange. But it still risks getting delisted later on because of the scandal.
Takayama said the company has also appointed three members from outside to a new reform committee.
Source: http://www.nwcn.com/news/world/135633378.html
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