business

Sharp admits sales padded at subsidiary amid pressure to hit targets

16 Comments

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Curious if they had passed their annual external audit. Did they manage to hide this from them or did the auditors miss this?

Japanese companies don't have external audits of any meaning.

3 ( +3 / -0 )

Curious if they had passed their annual external audit. Did they manage to hide this from them or did the auditors miss this?

2 ( +2 / -0 )

Will anybody be arrested?

2 ( +2 / -0 )

So they wanted to pay taxes on sales that didn't occur? Who not write off the loss, and save money?

0 ( +0 / -0 )

There's no way this is legal... You don't accidently make up sales for customers you don't have, this isn't you forgot to carry the 1 over.

The one most mad should be sharp since they were the ones lied to, but it clearly isn't even the case.

0 ( +0 / -0 )

.had a a visit from a salesman who wanted me to sign a contract that he insisted was just to meet monthly sales targets and I would not be held to it? 

Sounds like you had a visit from the Yakuza.

-1 ( +0 / -1 )

Like Toshiba and Olympus; another zombie company. Too bad, because they made decent stuff back in the day. Except for household appliances!

4 ( +4 / -0 )

What is kantatsu thinking???. Really children way of thinking.

1 ( +1 / -0 )

There is no effective corporate governance in Japanese companies. This is why I refuse to invest in them. Their P&Ls and balance sheets are pure trickery/outright lies.

6 ( +6 / -0 )

It is fraud, no argument. Those responsible should be in prison. Unfortunately the culture in Japan and Japanese businesses mitigates against this wholesome outcome ever coming to pass.

This only lowers the already heavily besmirched reputation of Japan Inc. once so proudly held up as an example to the world now wallowing in the mire.

4 ( +6 / -2 )

Harry watch the news past and present and future, I was interested in building a house so contacted what I believed was a reputable company....had a a visit from a salesman who wanted me to sign a contract that he insisted was just to meet monthly sales targets and I would not be held to it? So a contract has no value? I didn't sign. I got a family Buisness to build my house. It's a rampant practice there are no checks no penalties. The bigger the company the less you should trust, Olympus, That air bag company, Nissan, construction companies, mansions leaning on each other, leaking again and again it's fraud that keeps them financially buoyed. Best avoid them all

7 ( +7 / -0 )

through fraudulent accounting and that the illicit acts continued amid pressure from the parent to match business plan

So is it illegal or is it bad reporting or just speculation ?

Fraudulent Accounting is Fraud isn't it which is illegal isn't it?

3 ( +3 / -0 )

Septim DynastyToday  04:58 pm JST

Pretty much all big Japanese companies in Japan Inc have exaggerated their profits by 100% and more. Today, they are still doing it.

Examples with credible evidence please.

-5 ( +5 / -10 )

Pretty much all big Japanese companies in Japan Inc have exaggerated their profits by 100% and more. Today, they are still doing it. Many foreign investors are very skeptical of Japanese companies unless the foreigners are in control of those firms.

Additionally, you are not sure if those companies are actually subsidiaries of Sharp. For example, Fujitsu has a habit of lending its name to Chinese companies that use the name for easier exports and brand recognition.

10 ( +16 / -6 )

Sharp started out making pencils.

Guess they came with erasers, too.

3 ( +4 / -1 )

That’s completely normal, as you can already learn in every good business education lessons. Companies are obliged to make balance sheets and publish financial statements and those balances. Now the survival trick is, to publish different ones, that are slightly colored or have an intonation fitting to the target, but still being legal. Making yourself always under pressure and poor to the public, taxes, employees, making you splendid, rich and successful to the control board, shareholders, banks and such. That’s an art. And this time they had not such a skilled artist at work. lol

0 ( +2 / -2 )

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