JDI May Have Overstated Inventory in Fiscal 2015-2016: Asahi

Japan Display is suspected of inappropriately overstating a cumulative total of 10b yen in inventory, which may have inflated the company’s operating results and led to the postponement of loss, Asahi reports, citing unidentified people.

• Overstatement started shortly after former CEO Mitsuru Homma took up his role in June 2015 and continued through fiscal 2016, before Japan Display got financial assistance
• Asahi quotes unidentified person as saying Japan Display employees were under pressure from management at the time to meet quantitative targets
• Call to Japan Display from Bloomberg News outside business hours went unanswered
• Related Story: Japan Display to ...