Sharp admits sales padded at subsidiary amid pressure to hit targets

Economy Society

Sharp Corp. said Friday one of its subsidiaries had padded its sales by around 7.5 billion yen ($69 million) through fraudulent accounting and that the illicit acts continued amid pressure from the parent to match business plans. The Japanese electronics group under the wing of Taiwan's Hon Hai Precision Industry Co. released a report by the investigation committee on the matter, which came to light late last year. The subsidiary, Kantatsu Co., which makes lenses for smartphone cameras, booked sales despite the possibility of its products being returned from clients starting around July 2018, ...

Kyodo News

Kyodo News Society