The Tokyo Stock Exchange's decision not to delist scandal-ridden Olympus Corp. was lambasted by critics who said the company's concealment of huge losses for many years constituted breach of trust.
The TSE's rules stipulate that companies should be delisted when the effects of false reporting are judged to be serious from a "comprehensive" viewpoint.
Makoto Minoguchi, standing governor of Tokyo Stock Exchange Regulation, the TSE's self-regulatory body, said at a press conference Friday, "The effects of the false reporting were not serious enough to delist the company's shares." (Yomiuri)
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