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Business

Fujifilm to keep Fuji Xerox on short leash after scandal

Accounting, audit ops to be consolidated, chairman says

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  © Reuters

TOKYO -- Following revelations that Fuji Xerox had padded revenue for years, parent Fujifilm Holdings will combine the office equipment unit's accounting and audit departments with its own to strengthen corporate governance.

In an interview with The Nikkei on Friday, Chairman and CEO Shigetaka Komori acknowledged that the parent company's hands-off approach toward the unit provided inadequate oversight.

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