| | JULY 20244Fujitsu Group, a Japanese multinational information and communications technology equipment and services corporation, finally apologized to the wrongfully convicted Post Office workers and their families involved in the Horizon IT scandal. The British Post Office scandal, also known as the Horizon IT scandal, is an episode where numerous subpostmasters were erroneously held accountable for financial discrepancies, which were actually due to defects in the Horizon accounting software developed by Fujitsu.Takeshi Isobe, the chief financial officer of Fujitsu Group, said recently as the company reported its latest financial results: "On behalf of the Fujitsu Group, I would like to convey our deepest apologies to the subpostmasters and their families and reiterate that we regard this matter with the utmost seriousness. As the direction of the inquiry becomes clear, we want to work on appropriate compensation. We take this matter very seriously. We want the facts to become clear from the statutory inquiry."From 1999 to 2015, over 900 subpostmasters faced legal action, with approximately 700 prosecuted by the Post Office itself, leading to convictions for theft, fraud, and false accounting. Many were compelled to compensate for the software's errors using personal funds or suffered contract terminations. In 2024, Prime Minister Rishi Sunak acknowledged the scandal as one of the most profound judicial wrongs in the annals of British history. The apology from the CFO comes as a consolation to the victims, although most of them have been through events that compensation can't really compensate. It underlines a grave lesson for financial leaders. We welcome your comments on this yearly special issues that shed light on the CFO ecosystem in Japan.Sujith VasudevanManaging Editoreditor@ceoinsightsasia.comEditorialToo Little, Too Late Manager - DesignPrabhu Dutta A.R.N RayAssitant Editor Hima PM Designer Vayshnavi pdVol 01 · Issue 04 - 07 · JULY, 2024 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Noida Rohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Executive Prints - 113/7, Ground floor, Old madras road, Halasuru, Bangalore 560008 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2024 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.VP - Sales & Marketing Amrit Kumar Singh Circulation Manager Magendran Perumal Editorial Roshan Akthar Nalini.B Viswanathan hospitality from the hearttmOur hotel, restaurant & spa :traditional italian cuisineauthentic thai cuisineluxury boutique hotelsbuffalo wings & burgers+66 (0) 90 810 4888 | @thechiangmai | info@thechiangmai.com | thechiangmai.comintegrated solutions for quality living
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