Sanyo Chairwoman Resigns Amid Scandal

**Mercury** · 03-19-2007, 06:01 PM

TOKYO -- Sanyo Electric Co. Chairwoman Tomoyo Nonaka resigned on Monday for personal reasons amid an accounting scandal at the struggling electronics firm.

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**Lyte** · 03-19-2007, 06:03 PM

Whoa...

"Sanyo has been cooperating with an investigation by securities authorities into suspected window-dressing of earnings. Local media reports have said Sanyo wrote off losses of 190 billion yen ($1.63 billion) at its subsidiaries in 2003, but reported the losses as 50 billion yen ($429 million)."

Enron anyone?

Lyte