8 Worst Corporate Scandals in Japan

6. Nikko Cordial Corporation

$100 million

An accounting fraud in this company was discovered in 2007. Nikko Cordial Corporation was a subsidiary of Nikko Cordial Securities and the third largest brokerage in Japan. It was reported in the Japan Times that the top management of the company was involved in padding profits. The chief financial officer of the company, Hajime Yamamoto, was blamed for being involved in a fraud (used to inflate profits), during the five-year-period time (2001 to 2006).

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