One of the biggest corporate scandal this year was certainly the one connected with Toshiba, and not so long ago, in 2011, the Olympus Corporation scandal has also shaken the country as one of 8 worst corporate scandals in Japan.
Japan’s Prime Minister Shinzo Abe stated that the government was taking efforts to improve the corporate governance two months before the scandal, after Toshiba’s CEO apologized to him for the accounting scandal in one of the most famous country’s company. The government was worried that this scandal will scare away the investors and lose the market’s trust, while they were earlier trying to strengthen the investors’confidence in Japan. Toshiba corporate scandal was compared to the Enron fiasco, one of 10 biggest corporate scandals in modern history.
Some of our sources for 8 worst corporate scandals in Japan were The Japan Times, The Ethical Corp, CNBC, Bloomberg – The story behind the Olympus scandal, Reuters and many more. We put together everything we read about the biggest corporate scandals in Japan, ranked them according to the lost money and this is what we got: