Fuji Xerox president promises changes for NZ

Fuji Xerox headquarter in Yokohama, Japan. Photo / 123rf

The president of Fuji Xerox has reaffirmed the company's commitment to New Zealand after "inappropriate accounting" came to light at its local arm.

Hiroshi Kurihara, President and Representative Director of Fuji Xerox, gave the New Zealand outfit an update on the countermeasures taken by the parent company since an independent investigation committee set up by Fujifilm Holdings.

In June, Fujifilm released a report that revealed an accounting firm gave the company notice "it had reason to suspect fraud had occurred at FXNZ, and that it would be sending official notice on March 20 to FXNZ of its intent to conduct an investigation".

"I'd like to reemphasise that Fuji Xerox and our affiliates take the committee's findings very seriously and is absolutely committed to resolving past issues and ensuring that there is no recurrence," Kurihara told Fuji Xerox NZ today.

Fuji Xerox will strengthen the group's whistle-blowing system, its audit structure and risk management structure, the company said in a statement.

Last month's report laid the blame of the inappropriate accounting at a culture of "sales at any cost".

A segment of the report shows a company catchphrase was "Mo iccho yaruzo!!" which had a double meaning of "achieve one trillion yen" and "do one more time" in relation to returning the company to 1 trillion yen sales volume.

New, strict rules will be put in place regarding performance evaluation and incentive rules at sales subsidiaries, Fuji Xerox said.