Fujifilm Photography News and Rumors

FujiAddict previously reported that the investigation of Fujifilms account irregularities has come to a close, but at the time the full report was not made available. The (Replacement) Replacement of the Replaced Announcement of “Notice of Receipt of the Independent Investigation Committee’s Investigation Report and Future Measures” contains a “Tentative English translation for information purpose only” of the Investigation Report and from what I have been able to get through so far the report is damning, but in a very typical way… Pressure to sell at all costs and a lack of accounting oversight to prevent the manipulation of numbers that was done to make it look like expectations were met.

Another organization newshub is reporting that Fuji Xerox must suspend all government contracts in New Zeland until the full investigation is report is translated into English, so they can’t take on any new obligations, but they can for fill existing ones during this time. Eg paper, ink, supplies in general etc… The suspension will be reviewed in 6 weeks after the publication of the translated report. Further, The Serious Fraud Office didn’t want to pursue an investigation last year, but this might change after the release of the English report.

Unfortunately, Fujifilms financial irregularity might end up being a bigger problem than we all originally thought. These irregularities could end up costing Fujifilm billions if this is dragged out.

Via Fujifilm Holdings