Oki Data Plunges Down 41% on Accounting Scandal

Tonernews.com, August 14, 2012. USA

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Oki Data Plunges Down 41% on Accounting Scandal
Oki Electric, a Japanese equipment-maker, has become the latest firm from the country to be caught in an accounting scandal.

The firm said that it discovered financial irregularities at its Spanish unit.

It warned that the discrepancies could cause losses of about 8bn yen ($102m; £65m) and delay the release of its first-quarter financial results.Oki Electric shares plunged as much as 41% to 72 yen in Tokyo trading.The company has also been put under watch by the Tokyo Stock Exchange for a possible delisting.
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August 14, 2012 at 9:02 AM

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