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February 2, 2017 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/qb-ZDu0ISiU/us-probes-panasonic-unit-for-alleged-bribery-violations
US Probes Panasonic Unit For Alleged Bribery Violations
A Panasonic inflight entertainment and communications systems subsidiary is under investigation by U.S. authorities for allegedly breaking bribery and securities laws. From a report: Panasonic Avionics Corp. is being probed by the U.S. Department of Justice and Securities and Securities Exchange Commission for violating the Foreign Corrupt Practices Act, the Osaka-based company said in a statement Thursday. Panasonic said it's cooperating with the agencies, and evaluating the potential financial impact of the probe. The announcement of the probe mars an otherwise positive earnings release for Panasonic, which raised its full-year profit and revenue forecasts. The subsidiary is part of a corporate division that also makes mobile phones, projectors and surveillance cameras with a total of 33,000 employees. The segment had $6.7 billion in sales in the nine months ended Dec. 31, or 14 percent of total revenue.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/qb-ZDu0ISiU/us-probes-panasonic-unit-for-alleged-bribery-violations
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