Mita padded profit, says its overseer
Article Abstract:
Mita Industrial Co. announced that it filed for bankruptcy protection in an Osaka District Court in accordance with Japanese bankruptcy law. According to a bankruptcy statistics research agency, the company's liabilities amounted to 214.87 billion yen ($1.47 billion). A court-appointed adminstrator for Mita stated that since 1985, the firm had been padding its earnings. Since 1985, Mita is believed to have padded its profits by 37.09 billion yen.
Comment:
Files for bankruptcy protection in accordance with Japanese bankruptcy law; co padded earnings since 1985
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Sun Microsystems net more than doubles
Article Abstract:
Sun Microsystems posted earnings of $274.8 million, up from $197.9 mil for Q1 in 1998. Revenues were $3.12 bil, compared to $2.49 bil for the same 1998 period. The company is now primarily a maker of servers for the corporate Internet market. Shares closed at $91.75 before the news release.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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