Fuji Xerox NZ goes after former execs.

Fuji Xerox New Zealand and its parent company, Fuji Xerox Asia Pacific have filed civil proceedings in the High Court in Auckland against unnamed former senior executives of Fuji Xerox New Zealand.

Fuji Xerox New Zealand and its parent company, Fuji Xerox Asia Pacific have filed civil proceedings in the High Court in Auckland against unnamed former senior executives of Fuji Xerox New Zealand.

The precise nature of the proceedings and the individuals against whom they have been served have not been identified.

The move follows the detailing of serious financial misconduct at the company revealed in an independent investigation initiated by the ultimate parent company, Tokyo Stock Exchange-listed Fujifilm Holdings.

In April 2017 Fujifilm announced it would delay its 2016 annual report pending an investigation by an independent committee into both Fiji Xerox NZ and Fuji Xerox Australia after an in-house inquiry had reportedly uncovered the possibility that the units had overstated net profits by a total of roughly 22 billion yen ($NZ284m) over the past several years.

In June Fujifilm revealed that the loss had blown out to 37.5 billion yen ($NZ472m) and as a result of the scandal it announced the departure of chairman Tadahito Yamamoto and several other high level executives.

No Fuji Xerox NZ executives have been named in the announcement of the legal action and none were named in the investigator’s report. However the report referred many times to the conduct of a ‘Mr A’ who it said had been managing director of Fuji Xerox NZ and later became MD of Fuji Xerox Australia.

Also identified by role was a Mr B who the report said was the CFO of Fuji Xerox NZ until removed from the position in January 2016.

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