SANYO: Internal Scandal?

[Jerry Jones]

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/30/AR2007073000308.html

Sanyo has undergone a reshuffle at its top management after acknowledging earlier this year that it had falsified its fiscal 2003 earnings, in which it had reported a profit when it was in the red. The accounting scandal surfaced as the Japanese electronics maker of digital cameras and batteries was undergoing a turnaround, reducing jobs and shutting unprofitable businesses under a revival plan.

...also...

...improved sales in digital cameras and rechargeable batteries helped offset a decline in mobile handsets and refrigerators.

On a positive note, the news story says the company has now swung into true profitability.

Let's hope so.

Jerry Jones

http://www.jonesgroup.net