Menu
Fuji Xerox NZ puts a halt to all new government work

Fuji Xerox NZ puts a halt to all new government work

"Voluntary suspension" comes after an accounting scandal that started in New Zealand

Roiled by scandal, Fuji Xerox suspends business with the New Zealand government.

Roiled by scandal, Fuji Xerox suspends business with the New Zealand government.

Fuji Xerox has suspended business with New Zealand government agencies after a massive accounting scandal.

The company agreed to "voluntary suspension" from its Government contracts, The Ministry of Business, Innovation and Employment (MBIE) said today.

MBIE said the suspension was to give time to understand the full implications of a report from Fujifilm Holdings into irregular accounting practices at its New Zealand subsidiary.

All sales and marketing to government agencies under all-of-government contracts has been suspended. However, it will continue to meet obligations under existing agreements with public sector agencies," MBIE said.

The suspension will be reviewed in six weeks, after the recent publication of the English translation of the full report by Fujifilm Holdings, MBIE said.

The Ministry said it wants to ensure companies that supply government are held to the high standards the public would expect.

"The commitment of the entire Fuji Xerox Group to the New Zealand Government remains strong and Fuji Xerox New Zealand has the full support of the whole Fuji Xerox,"  said Hiroshi Kurihara, president of Fuji Xerox.

He said Fuji Xerox NZ was confident it would be able to satisfy MBIE that the issues were historical and resume business with agencies in the near future. 

Inappropriate accounting practices by Fuji Xerox in Australia and New Zealand resulted in a $472 million loss and a series of top-level executive and board resignations last month.

Fuji Xerox parent Fujifilm Holdings told the Tokyo Stock Exchange a loss of NZ$284 million as a result of improper accounting in New Zealand has blown out to NZ$472 million after inappropriate practices were uncovered in Australia as well.

Problems have also been revealed closer to home in Japan, forcing the company to postpone the release of its annual results. It is also expected to revise past reported earnings.



Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags New Zealandfuji xeroxfujifilmprinitngdoscument management

Brand Post

Featured

Slideshows

Malwarebytes shoots the breeze with channel, prospects

Malwarebytes shoots the breeze with channel, prospects

A Kumeu, Auckland, winery was the venue for a Malwarebytes event for partner and prospect MSPs - with some straight shooting on the side. The half-day getaway, which featured an archery competition, lunch and wine-tasting aimed at bringing Malwarebytes' local New Zealand and top and prospective MSP partners together to celebrate recent local successes, and discuss the current state of malware in New Zealand. This was also a unique opportunity for local MSPs to learn about how they can get the most out of Malwarebytes' MSP program and offering, as more Kiwi businesses are targeted by malware.

Malwarebytes shoots the breeze with channel, prospects
EDGE 2019: Channel forges new partnerships during evening networking

EDGE 2019: Channel forges new partnerships during evening networking

Partners, vendors and distributors reconnected during a number of social gatherings during EDGE 2019. The first evening saw the channel congregate for a welcome party at the Hamilton Island yacht club, while the main poolside proved to be the perfect stop for a barbecue on the final night.

EDGE 2019: Channel forges new partnerships during evening networking
Show Comments