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© (c) Copyright Thomson Reuters 2017.How Japan Post's big global bet unraveled
By Thomas Wilson and Byron Kaye TOKYO/SYDNEY©2024 GPlusMedia Inc.
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Wakarimasen
such a common tale. big J company buys overseas and loses heavily.
JeffLee
Quite a saga. Business executives wreck their own company, and are then richly rewarded for it.
Cliffy
@JeffLee
It is very common. It happens in many NA companies as well. CEO getting huge pay while the worker dornes getting sacked and/or no salary increase. Companies losing money and the executive still get a huge raise and bonus.
kurisupisu
'Japan Post acknowledged concerns over the due diligence process and its management of the company, but blamed the writedown on worse-than-expected economic pressures.'
Had they given the money to me I would have returned 20% back in a year.....,
mmwkdw
Agreed with Cliffy.
Its not quite as open as the US is, and the majority private Shareholders in Japan cant really do anything about it. That's assuming they can even trust the Company Auditors now-a-days.