Ricoh: A Fraud's Story.
Yes, you’re right. The title does seem similar to that of one of Richard Gere’s finer movies, Hachiko: A Dog’s Story (or the subsequently abbreviated Hachi: A Dog’s Tale). The similarities, however, between the Akita and the Japanese giant, Ricoh end there. For, while Hachiko was loyal to his master until his last dying breath, Ricoh’s Indian subsidiary didn’t exactly share that trait. In fact, as the past few years have evidenced, Ricoh India has lost no occasion to rip off its shareholders and leave them high and dry. When it comes to high standards of corporate governance and good management practices, Japanese companies have always been placed on a pedestal and managed to live up to their high standards. All that, however, has changed over the course of the past decade. Be it Toshiba’s overstated profits, Olympus’ fishy acquisitions to brush its investment losses under the carpet, Mitsubishi’s fuel economy scandal or even Takata’s widespread recalls following its f