DOCSLIB.ORG

Lloyd Graham, Et Al. V. Olympus Corporation, Et Al. 11-CV-07103

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Lloyd Graham, Et Al. V. Olympus Corporation, Et Al. 11-CV-07103 Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 1 of 111 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF PENNSYLVANIA CHAITANYA KADIYALA and KELLY SHARKEY, on behalf of themselves Case No. 1 1-cv-7 103 individually and all others similarly situated, Plaintiffs, V. OLYMPUS CORPORATION, TSUYOSHI KIKUKAWA, and SHUICHI TAKAYAMA, Defendants. PLAINTIFFS' SECOND AMENDED CLASS ACTION COMPLAINT VIANALE & VIANALE LLP LITE DEPALMA GREENBERG, LLC Kenneth J. Vianale (admitted pro hac vice) Steven Greenfogel 2499 Glades Road, Suite 112 Daniel B. Allanoff Boca Raton, FL 33431 1521 Locust Street, 8th Floor Tel: (561) 392-4750 Philadelphia, PA 19102 Tel: (215) 564-5182 SARRAF GENTILE LLP Ronen Sarraf (admitted pro hac vice) Liaison Counsel for Plaintiffs Joseph Gentile (admitted pro hac vice) 450 Seventh Avenue, Suite 1900 New York, New York 10123 Tel: (212) 868-3610 Co-Lead Counsel for Plaintiffs Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 2 of 111 TABLE OF CONTENTS I. NATURE OF THE ACTION ......................................................................................... 1 II. BASIS OF THE ALLEGATIONS.................................................................................2 III. JURISDICTION AND VENUE.................................................................................... 5 IV. PARTIES.......................................................................................................................6 A. Plaintiffs .............................................................................................................. 6 B. Defendants...........................................................................................................6 C. Additional Wrongdoers.......................................................................................8 V. OVERVIEW OF DEFENDANTS' FRAUDULENT SCHEME...................................9 VI. CLASS ACTION ALLEGATIONS............................................................................ 15 VII. SUBSTANTIVE ALLEGATIONS.............................................................................17 A. Olympus Engages in Financial Engineering and Incurs Substantial Losses .... 17 B. Olympus Begins the Cover Up and Moves Its Losses Off Its Books...............21 C. Olympus Tries to Settle The Losses And Bring The Tobashi To An End........26 (1) The "Mickey Mouse" Companies - Altis, News Chef and Humalabo ...........................................................26 (2) Defendants Grossly Overpay for Gyms ................................................. 30 VIII. OLYMPUS ISSUES FALSE AND MISLEADING STATEMENTS ........................34 IX. WOODFORD ATTEMPTS TO UNCOVER THE TRUTH........................................49 A. The Facta Articles.............................................................................................49 B. Woodford Writes to the Board.......................................................................... 51 C. Woodford's Sixth Letter.................................................................................... 55 El Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 3 of 111 D. The Problems Woodford and the PwC Report Identify.................................... 57 (1) The Gyrus Deal ....................................................................................... 57 (2) Altis, Humalabo and News Chef.............................................................63 X. DEFENDANTS DENY ANY WRONGDOING.........................................................64 XI. DEFENDANTS FINALLY REVEAL THE TRUTH................................................. 71 XII. LOSS CAUSATION ALLEGATIONS ......................................................................79 XIII. THE FEDERAL SECURITIES LAWS APPLY........................................................81 A. ADRs in General...............................................................................................83 B. Olympus ADRs.................................................................................................84 C. Plaintiffs Took Title To Their Olympus ADRs in the United States................90 XIV. APPLICABILITY OF THE PRESUMPTION OF RELIANCE: THE FRAUD ON THE MARKET DOCTRINE.........................................................92 XV. NO SAFE HARBOR....................................................................................................93 XVI. ADDITIONAL SCIENTER ALLEGATIONS............................................................94 XVII. CAUSES OF ACTION.............................. 101 XVIII. JURY TRIAL DEMANDED.................... 104 XIX. PRAYER FOR RELIEF ............................ 104 Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 4 of 111 I. NATURE OF THE ACTION 1. Plaintiffs bring this class action on behalf of themselves and all other purchasers of the American Depositary Receipts ("ADRs") of Olympus Corporation ("Olympus" or the "Company") between November 7, 2006 and November 7, 2011, inclusive, (the "Class Period"), pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), 15 U.S.C. §78j(b), 78t(a), and Rule lOb-5, 17 C.F.R. § 240.1Ob-5.' 2. Olympus is a Japanese manufacturer and world-wide seller of digital cameras and medical equipment. During the Class Period, Olympus issued false statements about its finances stemming from substantial losses it had suffered on investment securities. In the late 1980's, Olympus began to lose money on its product sales in the United States. It tried to compensate for this sales shortfall by trading in speculative securities, betting on quick profits. Olympus lost hundreds of millions of dollars on its positions. Matters got worse when Olympus tried to recoup these trading losses with further high-risk market bets. Olympus only added to its losses, for a total topping more than a billion dollars. 3. Olympus nevertheless refused to face the day of reckoning by recognizing its trading losses on its public financial statements. Instead, it carried out a fraudulent scheme to push the losses off its books and mask them as "goodwill" on its corporate acquisitions goodwill which could be written down and erased over time. Olympus' scheme was successful until an employee whistle-blower leaked information to a financial publication. At first, Olympus Many of the events described herein occurred in Japan which is in the UTC/GMT+9 time zone and does not employ daylight savings time. It is 13 to 16 hours ahead of the United States during the summer months, and 14 to 17 hours ahead of the United States during the winter months. As a result, certain events in Japan or statements made in Japan, as alleged herein, technically occurred on the preceding day in the United States. For example, on the day Olympus formally disclosed its $1.7 billion fraud alleged herein, it was November 8, 2011 in Japan, but November 7, 2011 in the United States. Unless otherwise noted, the dates used in this Complaint correspond to the place where the activities occurred or the relevant statements were made. Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 5 of 111 denied press reports that it had fraudulently accounted for several corporate acquisitions. Eventually, however, Olympus was pressured to reveal the full extent of the fraud. In a press release dated November 8, 2011, the Company admitted to a loss recognition deferral scheme going back to the 1990's. Olympus' stock price dropped on the news, causing damage to Plaintiffs and other purchasers of Olympus ADRs. II. BASIS OF THE ALLEGATIONS 4. Plaintiffs allege the facts in this Complaint based on personal knowledge as to themselves and their own acts, and as to all other matters, based upon their attorneys' investigation. That investigation included, among others, a review of the sources listed below and on the List of Exhibits appended hereto: (a) The annual reports, regulatory filings, financial material and press releases published by the Company, including but not limited to, financial statements issued by the Company and their corrected and restated versions, which are attached hereto as Exhibits I through 18 and incorporated herein by reference. (b) Early in the litigation, Co-Lead Counsel asked to speak to Michael Woodford ("Woodford"), former Chief Executive Officer of Olympus and a witness of the events described herein with first-hand information, as discussed below in paragraph 210. Co- Lead Counsel also reviewed six letters that Woodford sent to the Company's top directors, officers and auditors (including the English language Interim Report prepared by PricewaterhouseCoopers Legal LLP), which are attached hereto as Exhibit 19 and incorporated herein by reference, as well reviewed Woodford's book, Exposure (New York: Penguin, 2012), which details the Olympus financial fraud alleged herein. 2 Case 5:11-cv-07103-JKG Document 50 Filed 01/15/13 Page 6 of 111 (c) The 185-page Investigation Report, dated December 6, 2011, (referred to herein as the "IR"), prepared by the Third Party Committee as well as a review of its 38-page summary. (i) A copy of the IR can be found at http://www.olympus - global.comlenlinfo/2011b/ifl ll2O6corpe_2.pdf and is attached hereto as Exhibit 20 and incorporated herein by reference. (ii) A copy of the IR summary can be found at hup://www.olympus-global.comlen/commonlpdf/ifl 11206corpe.pdf and is attached hereto as Exhibit 21 and incorporated herein by reference. (iii) The Company formally established the Third Party Committee on November 1, 2011. See
Load more

Recommended publications
  • Theory and Practice of Corporate Governance: an Integrated Approach Stephen Bloomfield Index More Information
    Cambridge University Press 978-1-107-01224-0 - Theory and Practice of Corporate Governance: An Integrated Approach Stephen Bloomfield Index More information Index Abacus, 245 American shareholders, 322 Abacus fund, 185 American Stock Exchange, 356 ABI, 290 Anglo Irish Bank, 275, 281 ABN Amro Bank, 4, 188, 260, 275, 350 Annual Directors’ Statement, 320 absence of confidence annual general meeting, 97, 216 vote for directors, 149 annual salary increases, 144 accounting conventions, 351 annual shareholders meetings, 103 accounting information Apple, 314 functions, 302 apportioning of rewards, 322 accounting standards, 285, 312 and goodwill, 315 accounting treatment, 315 arbitrage, 47, 157 accounts ‘a rising tide lifts all boats’, 157, 363 international comparability, 303 Arthur Andersen, 287, 347 purpose, 60 Articles of Association, 36, 43–4, 97–8, 101, 229, subjective view of managers, 305 235, 305. See company technical characteristics, 302 as company owner. See shareholder Acrow, 371 as protection, 89 active management of assets, 134 as sanctions, 202 activist shareholders, 195 asset pricing, 223 adequate procedures regime, 114 asset strippers, 63, 134–6 Ad Hoc Task Force on Corporate Governance, 10 Slater, Jim, 63 Admission Rules, 37 Walker, Peter, 63 Adoboli Association of British Insurers, 145 UBS, 393 asymmetry ADT, 150 accounting information, 307 Advisory Conciliation and Arbitration Service, 133 asymmetry of information, 258 agency, 205 atomisation issues, 149 shares, 88 obligations, 279 attitudes among investment professionals, 212 relationship, 104, 106 audit, 277 theory, 21, 25 and internal control, 147 agent. See agency certificates, 183 aggressive takeover specialists. See asset strippers comfort, 298 AGM, 215, 229, 288, 320 committee, 138 formalistic exercises, 216 Audit Firm Governance Code, 290 AIG, 185 audit opinions, 283 algorithm-based hedging strategies, 221 auditors, 8, 21, 28, 45, 145, 183, 211 aligning directorial interest, 330 liability, 287 allocating costs, 307 responsibilities, 147 alternate.
    [Show full text]
  • Brochure Vermed Endotube
    ORDER INFORMATION 4011404C Disposable Tubing - OLYMPUS GI Endoscopes 4011405C Disposable Tubing - PENTAX GI Endoscopes PROVIDING A TAILORED SOLUTION 4011406C Disposable Tubing - FUJIFILM GI Endoscopes 500-600 Series A TAILORED SOLUTION... 4011407C Disposable Tubing - FUJIFILM GI Endoscopes 700 Series for endoscopic irrigation and insuation tubing FUNCTIONALITY – Designed for Optimal Performance 4011409C Disposable Tubing + CO Option - OLYMPUS GI Endoscopes 4011410C Disposable Tubing + CO Option - PENTAX GI Endoscopes 4011411C Disposable Tubing + CO Option - FUJIFILM GI Endoscopes 500-600 Series 4011412C Disposable Tubing + CO Option - FUJIFILM GI Endoscopes 700 Series EFFICIENCY – Enables Efficient Running of the Endoscopic Suite INFECTION CONTROL – Minimises Infection Risk to Improve Patient Outcomes 4011413C CO Insufflation Tubing with Hydrophobic Filter - LUER Connection 4011414C CO Insufflation Tubing with Hydrophobic Filter - ADAPTER Connection 4011415C Connection Adapter for Insufflator OLYMPUS UCR COMPATIBILITY – Comprehensive Range to Simplify Procurement & Stock Management 4011416C Connection Adapter for Insufflator FUJIFILM GW-1 4011417C Connection Adapter for Insufflator FUJIFILM GW-100 The ENDOtube range can cover your lower GI endoscopic irrigation and insuation tubing requirements and meet your needs. 4011418C Disposable Irrigation Tubing - EMED Pump / OLYMPUS GI Endoscopes 4011419C Disposable Irrigation Tubing - OLYMPUS Pump / OLYMPUS GI Endoscopes 4011420C Disposable Irrigation Tubing - ENDOGATOR Pump / OLYMPUS GI Endoscopes LARGE
    [Show full text]
  • Olympus Corporate Social Responsibility Report Digest
    Olympus Corporate Social Responsibility Report Digest Toward the Realization of a Better Livelihood and Happiness To protect the environment, this report was printed on FSC-certified paper produced using resources from appropriately managed forests, soy ink and waterless printing technology. It has received third-party approval from the Color Universal Design Organization, a nonprofit organization in Japan, as being suitable for people with a wide range of color-vision characteristics. Olympus Corporation Contact CSR Department, CSR Division Shinjuku Monolith, 3-1 Nishi-Shinjuku 2-chome, Shinjuku-ku, Tokyo 163-0914, Japan TEL:+81-3-6901-9299 FAX:+81-42-642-9017 E-mail:[email protected] Issued in August 2010 (previous edition issued in August 2009) Olympus Corporate Social Responsibilities Activities website http://www.olympus-global.com/en/corc/csr/ Circulation: 4,000 copies Next volume scheduled for issue in August 2011 X020-10E①1008T Printed in Japan Introduction The Olympus Group began to publish its “Environmental Report” in 2000. In 2005 the report was expanded to include information concerning corporate governance and the social aspects of the Group’s activities, and the title was changed to the “Corporate Social Responsibility Report”. Since 2008, the booklet has taken the form of a digest of the information provided on the Olympus Group CSR website. It is designed to provide a clear overview of the corporate activities of the Olympus Group, together with information about policies, initiatives and significant events in the current business year. Overview of Corporate Social Responsibility Information This Report and the Olympus CSR website The notation WEB WEB indicates that more detailed Olympus information is available on our website.
    [Show full text]
  • Olympus Scandal and Corporate Governance Reform: Can Japan Find a Middle Ground Between the Board Monitoring Model and Management Model
    UCLA UCLA Pacific Basin Law Journal Title The Olympus Scandal and Corporate Governance Reform: Can Japan Find a Middle Ground between the Board Monitoring Model and Management Model Permalink https://escholarship.org/uc/item/9v5803kw Journal UCLA Pacific Basin Law Journal, 30(1) Author Aronson, Bruce E. Publication Date 2012 DOI 10.5070/P8301022242 Peer reviewed eScholarship.org Powered by the California Digital Library University of California THE OLYMPUS SCANDAL AND CORPORATE GOVERNANCE REFORM: CAN JAPAN FIND A MIDDLE GROUND BETWEEN THE BOARD MONITORING MODEL AND MANAGEMENT MODEL? By Bruce E. Aronson* TABLE OF CONTENTS I. Introduction ................................. 95 II. The Olympus Scandal and Corporate Governance Issues ..................................... 106 A. Background of the Olympus Case ............ 106 B. Monitoring of Management under Japan's Corporate Governance System .............. 115 III. Back to Basics: Revisiting Theoretical and Structural Issues ............................ 120 A. Purpose of Corporate Governance Reform .... 120 B. Monitoring Function of the Board of Directors..... ........................ 125 IV. Practical Issues: Achieving "Truly Effective" Corporate Governance Reform ................. 129 A. Information ............................. 130 1. Internal Sharing of Information .......... 130 2. Public Information Disclosure ............ 132 * Senior Fulbright Research Scholar, Waseda University; Professor of Law, Creighton University School of Law. I thank Mr. Sumitaka Fujita, Professor Yumiko Miwa, and Mr. Naoaki Okabe for acting as a panel of commentators following my presentation on this research at the Meiji Institute for Global Affairs Inaugural Symposium, Tokyo, Japan (Feb. 21, 2012), and participants in presentations at Nagoya University (April 20, 2012), AIMA Japan Hedge Fund Forum 2012, Tokyo Stock Exchange (June 4, 2012), 2012 International Conference on Law & Society, Law & Society Association, Honolulu (June 5, 2012), and Business Research Institute, Tokyo (Aug.
    [Show full text]
  • Sharp Joins in the Micro Four Thirds System Standard Group
    April 3, 2019 Sharp Joins in the Micro Four Thirds System Standard Group Olympus Corporation and Panasonic Corporation jointly announced the Micro Four Thirds System standard in 2008 and have since been working together to promote the standard. We are pleased to announce that Sharp Corporation has recently declared their support for the Micro Four Thirds System standard and will be introducing products compliant with the standard. As the driving force behind 8K imaging technology and a product developer, Sharp Corporation now supports the Micro Four Thirds standard. In the future, Sharp will add Micro Four Thirds products to their line-up. The possibilities unique to a joint standard will expand the enjoyment of imaging further. As the company responsible for initiating both the Four Thirds System and the Micro Four Thirds System standards, Olympus will continue to develop and enhance the product line-up to meet the diverse needs of our customers. ●About Sharp Corporation Sharp Corporation is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in LCDs and digital technologies, Sharp offers one of the world’s broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. Sharp group employs 53,939 people around the world (as of December 31, 2018) and recorded consolidated annual sales of 2,427 billion yen for the fiscal year ended March 31, 2018. For more information, please visit: http://sharp-world.com/ ●Micro Four Thirds standard The outlines of the standard can be found on the following website.
    [Show full text]
  • Annual Report 2014
    Olympus CorporationAnnualReport 2014 Reliable Annual Report 2014 Printed in Japan This report uses environment-friendly ink and paper. 2014.08 Contents Editorial Policy The Olympus Group strives to conduct disclosure in a Basic Information manner that meets the information needs of its various stakeholders. Annual Report 2014 is a tool for providing 02 Our Business: Our Business Domain and Key Technologies stakeholders with management and fi nancial information for fi scal 2014, the year ended March 31, 2014. 04 Our Strategy: Medium-Term Vision (Corporate Strategic Plan) Non-fi nancial information can be found in CSR Report 2014, while the Company’s corporate website provides 05 Our Progress under Review: Advances in the Two Years Since the Institution up-to-date information on a variety of topics. of the New Management Team IR Website Results and Growth Strategy http://www.olympus-global.com/en/ir/ Corporate Philosophy 06 Financial Highlights 08 Interview with the President 14 Past, Present, and Future of Olympus— Conversation with Analysts 20 Special Feature (Medical): Reliable Growth in Global Markets Growth Strategy by Segment 28 At a Glance 30 Review of Business Segments CSR Activities 30 Medical Business http://www.olympus-global.com/en/csr/ 34 Scientifi c Solutions Business CSR Report 2014 We aim towards establishing fi rm ties with the society through the three IN’s. 38 Imaging Business The Olympus Group strives to realize better health and happiness for people by 42 Intellectual Property Report being an integral member of society, sharing common values, and proposing new values through its business activities. Foundation for Supporting Growth This “Social IN” concept is key to the basic Olympus philosophy underlying all our activities.
    [Show full text]
  • Allied Academies International Internet Conference Proceedings
    Volume 14, 2012 ISSN: 2050-8313 Allied Academies International Internet Conference Proceedings Editors JoAnn and Jim Carland Carland College Affiliates Journals Academy of Accounting and Financial Studies Academy of Accounting and Financial Studies Journal Academy of Banking Studies Academy of Banking Studies Journal Academy of Educational Leadership Academy of Educational Leadership Journal Academy of Entrepreneurship Academy of Entrepreneurship Journal Entrepreneurial Executive International Journal of Entrepreneurship Journal of Entrepreneurship Education Academy of Health Care Management Academy of Health Care Management Journal Academy of Information and Management Sciences Academy of Information and Management Sciences Journal Academy of Marketing Studies Academy of Marketing Studies Journal Academy of Strategic Management Academy of Strategic Management Journal Academy for Studies in Business Business Studies Journal Academy for Economics and Economic Education Journal of Economics and Economic Education Research Academy for Studies in International Business Journal of International Business Research Academy of Legal, Ethical and Regulatory Issues Journal of Legal, Ethical and Regulatory Issues Academy of Organizational Culture, Communications & Conflict Journal of Organizational Culture, Communications & Conflict International Academy for Case Studies Journal of the International Academy for Case Studies Page ii The Proceedings of the Allied Academies’ Internet Conference are owned and published by the DreamCatchers Group, LLC. Editorial content is under the control of the Allied Academies, Inc., a non-profit association of scholars, whose purpose is to support and encourage research and the sharing and exchange of ideas and insights throughout the world. Authors execute a publication permission agreement and assume all liabilities. Neither the DreamCatchers Group nor Allied Academies is responsible for the content of the individual manuscripts.
    [Show full text]
  • Olympus Corporation Financial Statement Fraud Case Study: the Role That National Culture Plays on Detecting And
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Clute Institute: Journals Journal of Business Case Studies – Second Quarter 2014 Volume 10, Number 2 Olympus Corporation Financial Statement Fraud Case Study: The Role That National Culture Plays On Detecting And Deterring Fraud Anita R. Morgan, Ohio Northern University, USA Cori Burnside, Indiana University East, USA ABSTRACT Recent cases provide insight into the role that an unethical corporate culture plays in financial statement fraud. The case of financial statement fraud in Olympus Corporation, a Japanese firm, provides the opportunity to examine how national culture plays a role in corporate governance and fraud detection. This case study focuses on the impact of Japanese culture on the corporate culture of The Olympus Corporation, and how that corporate culture resulted in financial statement fraud. Keywords: Olympus Corporation; Financial Statement Fraud; Corporate Culture; Japanese Culture; Case Study BACKGROUND n April 1, 2011, Michael Woodford became the first non-Japanese president and COO of Olympus Corporation. He was fired six months later on October 14, 2011. In a press conference, Tsuyoshi Kikukawa, Chairman of the Board of Directors of Olympus stated, “We hoped that he could do things Othat would be difficult for a Japanese executive to do. But he was unable to understand that we need to reflect a management style we have built up in our 92 years as a company, as well as Japanese culture” (Dye, 2013). Woodford’s tenure as President was rocky. In July of 2011, after being in office only about three months, Woodford received an e-mail directing his attention to an article in a Japanese magazine (Facta) that accused Olympus of financial statement fraud.
    [Show full text]
  • 1 Board Gender Diversity and Its Impact on Earnings
    Board Gender Diversity and Its Impact on Earnings Management: An Empirical Analysis for Selected European Firms Board Gender Diversity and Its Impact on Earnings Management: An Empirical Analysis for Selected European Firms Abstract: From a corporate governance point of view, this paper addresses the question about how board gender diversity influences managerial opportunistic behavior in solving agency conflicts in a sample of European countries. Specifically, we analyzed indexed non-financial companies from Denmark, Finland, France, Germany, Italy, Norway, Portugal, Spain, Sweden, and United Kingdom for the period 2006 – 2016. Several panel data techniques are used in the empirical analysis to deal with the endogeneity and heterogeneity problems. To the best of our knowledge our research is novel in the literature by providing a multi-country approach in board gender diversity, as well as considering contextual, country variables and the role of the regulatory system as determinants of earnings management. Our results confirm the benefits of having a balanced board, in terms of gender diversity. An equilibrated board tends to mitigate earnings management practices, reinforcing the value of the laws passed in the last decades in Europe. Our analysis reveals that the regulatory framework regarding board gender diversity established by each country has a determinant role in reaching equality in decision-making positions, as a founding value of the European Union. We provide several policy recommendations from our main findings. Key words: Earnings management; Corporate Governance; Gender Diversity; Board Composition; Female Quotas JEL Classification: G32, G34 1 1.Introduction Equality between women and men is one of the European Union’s founding values.
    [Show full text]
  • CORPORATE PROFILE Corporate Philosophy
    CORPORATE PROFILE Corporate Philosophy Mission Statement Creating Value for Customers via New Ideas ITO Corporation's mission is to contribute to our customers and to society via the values born from new pairings and findings. We create opportunities that previously did not exist by connecting together objects, people, companies, and ideas. We strive for a virtuous cycle where we provide new opportunities and value to our customers, which in turn contributes to the products and services born into the world. Value Statement An Organization Which Excites All In order for us to provide customers and society with exciting new opportu- nities, we ourselves must be an innovative organization. Additionally, for us to increase our customer's level of satisfaction and to take actions which contrib- ute to the world, it is important that we spend our time in a valuable way. To achieve the above, we value the following as an organization: Respect each other and understand the value that diversity brings. No discrimination based on gender, nationality, age, experience, etc. Cultivate a harmonious and encouraging work culture, and support the efforts of others Strive for a fulfilling life together, not only with work but also by valuing family and society Provide employment, skill development, and opportunities for advance- ment to those with motivation Ensure that our actions are always fair and moral Vision Statement Improve the World via Moving Equipment Throughout the ages, moving components and equipment have freed people from heavy la- bor, enabled transportation to remote locations, and enriched the lives of people everywhere. During the foundation of our company, we played a role in the post-war recovery by providing to people electrical machinery and other moving items that could be used in the burnt fields of Tokyo.
    [Show full text]
  • TOPIX100 Constituents (As of October 31, 2019) No. Code Issue No. Code Issue 1 1605 INPEX CORPORATION 51 7201 NISSAN MOTOR CO.,LTD
    TOPIX100 Constituents (as of October 31, 2019) No. Code Issue No. Code Issue 1 1605 INPEX CORPORATION 51 7201 NISSAN MOTOR CO.,LTD. 2 1878 DAITO TRUST CONSTRUCTION CO.,LTD. 52 7202 ISUZU MOTORS LIMITED 3 1925 DAIWA HOUSE INDUSTRY CO.,LTD. 53 7203 TOYOTA MOTOR CORPORATION 4 1928 Sekisui House,Ltd. 54 7267 HONDA MOTOR CO.,LTD. 5 2502 Asahi Group Holdings,Ltd. 55 7269 SUZUKI MOTOR CORPORATION 6 2503 Kirin Holdings Company,Limited 56 7270 SUBARU CORPORATION 7 2802 Ajinomoto Co.,Inc. 57 7733 OLYMPUS CORPORATION 8 2914 JAPAN TOBACCO INC. 58 7741 HOYA CORPORATION 9 3382 Seven & I Holdings Co.,Ltd. 59 7751 CANON INC. 10 3402 TORAY INDUSTRIES,INC. 60 7832 BANDAI NAMCO Holdings Inc. 11 3407 ASAHI KASEI CORPORATION 61 7974 Nintendo Co.,Ltd. 12 4063 Shin-Etsu Chemical Co.,Ltd. 62 8001 ITOCHU Corporation 13 4188 Mitsubishi Chemical Holdings Corporation 63 8002 Marubeni Corporation 14 4452 Kao Corporation 64 8031 MITSUI & CO.,LTD. 15 4502 Takeda Pharmaceutical Company Limited 65 8035 Tokyo Electron Limited 16 4503 Astellas Pharma Inc. 66 8053 SUMITOMO CORPORATION 17 4507 Shionogi & Co.,Ltd. 67 8058 Mitsubishi Corporation 18 4519 CHUGAI PHARMACEUTICAL CO.,LTD. 68 8113 UNICHARM CORPORATION 19 4523 Eisai Co.,Ltd. 69 8267 AEON CO.,LTD. 20 4528 ONO PHARMACEUTICAL CO.,LTD. 70 8306 Mitsubishi UFJ Financial Group,Inc. 21 4543 TERUMO CORPORATION 71 8308 Resona Holdings, Inc. 22 4568 DAIICHI SANKYO COMPANY,LIMITED 72 8309 Sumitomo Mitsui Trust Holdings,Inc. 23 4578 Otsuka Holdings Co.,Ltd. 73 8316 Sumitomo Mitsui Financial Group,Inc. 24 4661 ORIENTAL LAND CO.,LTD.
    [Show full text]
  • View Complaint
    Case 1:04-cv-01338-LPS Document 911 Filed 11/08/07 Page 1 of 18 PageID #: 7399 IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE HONEYWELL INTERNATIONAL INC. and ) HONEYWELL INTELLECTUAL PROPERTIES INC., ) ) Plaintiffs, ) ) v. ) ) APPLE COMPUTER, INC.; ALL AROUND CO., LTD., ) ARGUS A/K/A HARTFORD COMPUTER GROUP, INC.; ) BOE-HYDIS TECHNOLOGY CO., LTD.; CITIZEN ) WATCH CO., LTD., CITIZEN DISPLAYS CO., LTD., ) C.A. No. 04-1338-*** CONCORD CAMERAS; DELL INC.; EASTMAN KODAK ) (Consolidated) COMPANY; FUJIFILM CORPORATION, FUJIFILM ) U.S.A., INC., FUJITSU LIMITED; FUJITSU AMERICA, ) JURY TRIAL DEMAND INC.; FUJITSU COMPUTER PRODUCTS OF AMERICA, ) INC.; INNOLUX DISPLAY CORPORATION; KYOCERA ) WIRELESS CORP.; MATSUSHITA ELECTRICAL ) INDUSTRIAL CO.; MATSUSHITA ELECTRICAL ) CORPORATION OF AMERICA; NAVMAN NZ LIMITED; ) NAVMAN U.S.A. INC.; OLYMPUS CORPORATION; ) OLYMPUS AMERICA, INC.; PENTAX CORPORATION; ) PENTAX U.S.A., INC.; PICVUE ELECTRONICS ) LIMITED; SAMSUNG SDI CO., LTD; SAMSUNG SDI ) AMERICA, INC.; SONY CORPORATION; SONY ) ERICSSON MOBILE COMMUNICATIONS AB; SONY ) ERICSSON MOBILE COMMUNICATIONS (USA) INC.; ) TOSHIBA CORPORATION; and TOSHIBA AMERICA, ) INC.; ) ) Defendants. ) REVISED SECOND AMENDED COMPLAINT AND DEMAND FOR JURY TRIAL Pursuant to the Court’s October 7, 2005 Memorandum Order (D.I. 237), Plaintiffs, for their Revised Second Amended Complaint against Defendants, hereby allege as follows: Nature of the Action 1. This is an action for the willful infringement of a United States patent. Case 1:04-cv-01338-LPS Document 911 Filed 11/08/07 Page 2 of 18 PageID #: 7400 The Parties 2. Plaintiff Honeywell International Inc. (“Honeywell International”) is a corporation organized and existing under the laws of Delaware with its principal place of business in Morristown, New Jersey.
    [Show full text]