Olympus, the world’s famous camera maker and leading endoscope producer
is now a hot spot of the Japanese business scene. The turmoil of the incident initially started from dismissal of the
ex-British president from the company. He accused the company of injecting abnormally huge consultation fees to
financial adviser in the mergers and acquisitions of various overseas and
Japanese firms. But the essential point
of the incident is now closing to the cover up of its heavy losses on the stock
market. There are several issues to
appear from the incident. Substantial
accounting fraud has been continued for a long term probably since the
ex-chairman’s capture of top management ten years ago. There has been no whistle blowing and accusation in terms of Olympus’s
financial result, therefore, it is assumed that the financial fraud has
been conducted based on the corporate culture like a habit or custom. Also, the current and former executives of the firm might have been
possible to make the ex-British present a scapegoat of the scandal. On the other hand, it seems strange that the
Japanese Securities Exchange Commission and the tax authority have not paid
attention to the dubious configuration of the financial and fiscal corporate
reports. More surprisingly, some
financial advisers to the company came from Japanese top securities. So, the problems lie in not only Olympus’s bizarre corporate culture but
also the indifferent attitude of supervisory and regulatory entities. Overall, one of flagship brands in a Japanese
business arena has disappeared overnight, but more miserable thing is that many
good-will shareholders and faithful employees and their families to the company
might lose fortune and self-respect. Such aching heart will be lasting much
longer than expected. Any entrepreneurs
and related supervisors and regulators responsible to organizational bodies
should keep in mind they should always have strong sense of responsibility and
accountability against all stakeholders. (Takashi Higashi, President, TCS)
Key articles on Japanese industry scenes selected by TCS
Headlines of the articles:
| COMMUNICATIONS |
Optical Terminal Realizes LED Communication with iPad and Smart Phones |
| ELECTRONICS | Healthy Motor Scooter for Keeping Riders Warm |
|
Handy Miso Soup Machine for Offices without Power Source to Release |
|
| Human Voice Manipulates Control of Air Conditioner | |
| MATERIAL | 99% Radioactive Material can be Realized with Reverse Osmotic Membrane |
| Filter Life Absorbing Car Black Fume Extends by Using Heat-Resistive Metal | |
|
Octopus Leg Style Polyester Fiber Enhances Resistance against Heat and Sweat |
|
| ENERGY |
Production Device for High-Grade Bio Fuel Derives from Atomization Technique |
| Mobile Solar Power Generator Operated in AC and DC Power to Appear | |
| ENVIRONMENT |
Sugar-Base Plastic Brings Sophisticated Sheets and Mats in Automobiles |
COMMUNICATIONS
Optical Terminal Realizes LED
Communication with iPad and Smart Phones
September
8--Tamura invented a light-receiving terminal of visible light communication by
using LED. The terminal enables to
exchange signals with iPad and smart phones in LED light only. The device can bring wireless communication
by preventing radio wave interference in high-tech hospitals and factories.
ELECTRONICS
Healthy Motor Scooter for
Keeping Riders Warm
October
17--Suzuki starts selling a new motor scooter which includes warming
function. The motor bike is equipped
with a device to avoid wind at its handles, a heater for rider’s hands as well
as a thermal seat whose temperature is automatically adjusted. The emission volume is 124cc.
Handy Miso Soup Machine for
Offices without Power Source to Release
September
30--Marukome releases a compact soybean-soup server for office use. When users
push a lever of the server, liquefied soybean (miso) comes down, and fillings
and hot-water are mingled for eat. The
operation is based on air pressure, so no power source is necessary.
Human Voice Manipulates
Control of Air Conditioner
September
13--Toshiba Home Appliance announced that the company will sell air conditioner
which can be manipulated by human voice. Special remote controller with the conditioner can direct 26 types
guidance for manipulation in identifying human voice. The product will be released from November.
MATERIAL
99% Radioactive Material can
be Realized with Reverse Osmotic Membrane
October 14--Toray announced that the company’s reverse osmotic membrane
is effective for removing radioactive materials. According to the company, the membrane was
able to cut 99% portion of radioactive ingredients such as cesium. Toray will try to sell the fiber for municipalities in Japan.
Filter Life Absorbing Car Black Fume Extends by Using Heat-Resistive Metal
October
14--Sanki Engineering devised a technology to extend
filter duration for two years that absorbs black fume included in exhaust gas
from engines in automobiles. The filter
duration’s extension was realized in changing its material from ceramic to
heat-resistive metal, which enables car drivers to do maintenance easily.
Octopus Leg Style Polyester
Fiber Enhances Resistance against Heat and Sweat
September
13--Teijin announced that the company has developed a polyester fiber whose
shape is octopus arm. The fiber is a
hollow yarn with eight prongs in a radial fashion. The weight is light with resistance against
heat and sweat to be used for coats and underwear.
ENERGY
Production Device for
High-Grade Bio Fuel Derives from Atomization Technique
October
19--Nanomizer develops a device to produce high-purity bio fuel using plant-base
oils. The product can restrain occurrence
of choke-up material in power generation engines based on atomization
technology. The technology can be used for factories and marine vessels.
Mobile Solar Power Generator Operated
in AC and DC Power to Appear
October
17--OS released a hand-held solar power generator which can provide electricity
both in direct and alternate current. Users extend solar panel from an installed case and can stock solar
power in equipped storage battery. The
maximum number of solar panel to be set up together is six with 100W output
totally. The product is sold in
preparation for natural disasters.
ENVIRONMENT
Sugar-Base Plastic Brings
Sophisticated Sheets and Mats in Automobiles
October 12--Toyota developed a high abrasion-resistance eco plastic based
on plant. The new biodegradable plastic can be used
for surface cover of sheets and floor mats in automobiles. The raw material is from cane sugar. Quality and cost performance of the plastic
is the same as those of petroleum origin.
* * *
(Source: Nihon Keizai Shimbun, Nikkei Sangyo Shimbun)
* * *
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