Ex-exec at struggling Japan Display embezzled 578 mil. yen in 4 yrs english.kyodonews.net

KYODO NEWS - 39 minutes ago - 11:41 | All, JapanA former executive in charge of accounting at loss-making panel maker Japan Display Inc. embezzled some 578 million yen ($5.3 million) in a four-year period from 2014 and was dismissed last December, the company said Thursday.
"We have implemented steps to prevent a recurrence and will make efforts to thoroughly comply with laws and strengthen governance," Japan Display said in a statement.
Japan Display reported a group net loss of 108.67 billion yen in the six months through Sept. 30, up more than 10-fold from 9.52 billion yen a year earlier, due to massive restructuring costs that saw its negative net worth surpass 100 billion yen.
Japan Display went public in 2014.
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