Fuji Xerox Suing Former Fuji Xerox NZ Executives in Wake of Accounting Scandal
Japan’s Fuji Xerox, the joint venture between Xerox and Fujifilm Holdings, reports that it’s filed a lawsuit against former Fuji Xerox New Zealand senior executives in the wake of an approximate $350 million accounting scandal at Fuji Xerox’s New Zealand subsidiary.
The company said in a statement today that Fuji Xerox New Zealand, Fuji Xerox Finance, and their parent shareholder, Fuji Xerox Asia Pacific, had filed civil proceedings in the High Court at Auckland in New Zealand against former senior executives at Fuji Xerox New Zealand, but didn’t release the names of individuals charged in the lawsuit.
Fuji Xerox Asia-Pacific chief executive Isamu Sekine said in a statement: “Fuji Xerox is committed to resolving these past issues and ensuring they do not happen again. Customers can be confident that Fuji Xerox New Zealand is committed to running its business in a principled way and will continue to lead the market in the delivery of print, document management and business optimisation solutions.”
As we reported earlier this week, New Zealand government officials are reportedly probing Fuji Xerox New Zealand practices that reportedly include “massive salaries, made-up sales, and nepotism.” The New Zealand Commerce Commission is said to be forcing the New Zealand Ministry of Business, Innovation and Employment (MBIE) to hand over documents that include information concerning Fuji Xerox. Fuji Xerox has also been “voluntarily suspended” from competing for New Zealand government business.
- September 2017: New Zealand Government Probing Fuji Xerox Accounting Irregularities
- August 2017: ‘Massive Salaries, Made-Up Sales, Nepotism’ Detailed at Fuji Xerox Australia and New Zealand
- July 2017: Fuji Xerox Chairman Yamamoto Resigns in Wake of New Zealand Accounting Scandal