Fujifilm-Xerox Venture Ousts Executives Over Accounting Trouble -<br />By JONATHAN SOBLEJUNE 12, 2017<br />TOKYO — Fuji Xerox, the Japan-based joint venture between Xerox and Fujifilm Holdings, said on Monday<br />that its chairman and three other executives were stepping down over accounting problems discovered at its operations in Australia and New Zealand.<br />A committee of lawyers and accounting specialists hired by the company concluded<br />that the managers had overstated revenue by 37.5 billion yen, or about $340 million, in the five years through 2016, Fujifilm said on Monday.<br />Kenji Sukeno, president and chief operating officer of Fujifilm Holdings, which owns 75 percent of Fuji Xerox, bowed<br />and apologized at a news conference along with other Fujifilm executives.
