Akebono Cuts Pay, Forecasts in Latest Japan Accounting ScandalMa Jie and Masatsugu Horie
Brake manufacturer finds `channel-stuffing' at distributors
Four executives' compensation will be reduced for three months
Akebono Brake Industry Co. has become the latest addition to a series of corporate scandals in Japan, cutting earnings forecasts and executive pay after confirming problematic accounting of sales to distributors.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.