TOKYO (Reuters)-Japan corporate governance system that is not to blame for a major accounting scandals in the Olympus Corp., and foreign investors are not likely to leave Japan companies, an official in the powerful Keidanren business lobby said on Wednesday. “
Olympus shares have fallen about 50 percent since the scandal erupted and some experts say the case could dampen foreign investors ‘ willingness to invest in Japan.
But Abe, Yasuhisa Keidanren business infrastructure bureau Director, said he was not worried because the foreign share of investment in Japan has increased and stock investment decisions made based on other factors.
“The investment depends on the performance of the company or moves of Japan’s economy. I can confirm that there is nothing to make investment decisions that are just looking at the Government, “he told Reuters in an interview.
Olympus is at risk of being excluded from the list above the $ 1.7 billion accounting scandal, one of the biggest ever in Japan, which broke out in October after the former CEO Michael Woodford United Kingdom blew the whistle on the acquisition of expensive and questionable.