Fujitsu employee cooked books

FUJITSU HAS admitted that an employee cooked up fabricated transactions.

Japanese news service Daily Yomiuri Online reports that a Fujitsu employee rigged deals by buying and selling goods that did not exist.

In a statement, Fujitsu said:

"It has been reported in the media today that an employee of Fujitsu Kansai Systems Limited, an affiliated company of Fujitsu Limited, is suspected of having been involved in fictitious transactions associated with the bankruptcy filing of NAJ K.K. Together with outside legal counsel, we have been conducting a detailed internal investigation into this matter. In the process of this investigation, we have determined that, unfortunately, the employee in question was indeed involved in some of the fictitious transactions initiated by NAJ.

"We are now conducting a detailed investigation going back into the past to determine the existence, amounts, periods, content, circumstances and other details of any improper transactions, and we will publicly announce any information that should be disclosed at the earliest opportunity."

The company added that the problem has had a “negligible” impact on its financials.

Book keeping has been a problem at Japanese tech companies recently. Earlier this year Sanyo admitted falsifying accounts for its 2003 financial year. µ