Japanese convenience chain Lawson Inc has announced changes to its business practices, after a “misappropriation” of JPY14.4bn (US$4.7m) by two company directors in its Lawson Entermedia unit.
The Japanese retailer will strengthen its payment system monitoring and has established committees in all Lawson companies to oversee internal controls.
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“We offer our sincerest apologies,” Lawson Inc said. “The Lawson Group as a whole will enforce risk management in order to prevent such an incident from recurring.”
The move follows recommendations made in a final report of an external investigative committee probing the scandal.
Today (14 April), Lawson reported an expected slump in annual earnings due to the Entermedia affair.
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