Hiroshi Kurihara, president and representative director of Fuji Xerox, met with employees in Auckland this month and reaffirmed the parent company’s commitment to Fuji Xerox New Zealand and the New Zealand market.

He said, “Fuji Xerox’s commitment to the New Zealand market remains strong. I am confident Fuji Xerox New Zealand is well positioned at the forefront of the document management industry and remains a valued partner to our many customers.”

He also provided an update of the countermeasures taken by Fuji Xerox since the Independent Investigation Committee set up by Fujifilm Holdings Corporation identified inappropriate accounting practices at Fuji Xerox New Zealand as well as Fuji Xerox Australia. The Committee also highlighted the need to strengthen Fuji Xerox’s corporate governance.

He said, “I’d like to re-emphasise 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.”

Fuji Xerox has begun taking a series of countermeasures to ensure the group adhere to the highest standards of corporate governance.

Specific countermeasures include appropriate accounting practices now in place for all MSA contracts; strengthened finance and audit organisations; new, strict rules put in place regarding performance evaluation and incentive rules at sales subsidiaries; and reorganise lease business organisations.

Countermeasures to strengthen Fuji Xerox corporate governance include implementing compliance education for executives, managers, and all staff throughout Fujifilm Holdings and Fuji Xerox; strengthening governance and audit functions over board meetings at overseas subsidiaries; secure independence of audit function and strengthened audit structure; strengthened risk management structure; the Group’s whistle-blowing system will be strengthened; and it will enhance performance measures not only in financial area but holistically to achieve long-term, sustainable growth.

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