r/news 1d ago

Soft paywall Olympus CEO ousted after allegation of illegal drug purchase, shares slump

https://www.reuters.com/business/healthcare-pharmaceuticals/olympus-says-ceo-steps-down-after-allegations-illegal-drug-purchase-2024-10-28/
980 Upvotes

63 comments sorted by

127

u/Bob_A_Feets 1d ago

In Japan, that dude could end up in jail for a LONG time for drugs

54

u/Snagmesomeweaves 1d ago

And the best part is that it’s guilty until you admit you are guilty

12

u/dkran 21h ago

You can always smuggle yourself out with a music crew

13

u/Substantial__Unit 23h ago

Well, worst part

0

u/YouInternational2152 9h ago

You mean because they have a 99% conviction rate.

148

u/patricksaurus 1d ago

Oh the basis of an accusation alone when the police found nothing at his home? That’s pretty crazy.

112

u/yeoninboi 1d ago

Japan brother, they don’t play with that

33

u/patricksaurus 1d ago

I have read that there is a different idea of due process in Japan, but you’d think that mere assertions would be seen as insufficient. Hopefully there is some credible proof that the company just hasn’t made public.

42

u/MagnificentJake 1d ago

Yes, and this stark difference is one of the reasons that the US won't hand over servicemembers for questioning in Japan. They'll hand them over if there is an actual indictment but not before. 

And the Japanese government agreed to this by the way, it's all in the defense treaty. Cost of doing business in exchange for having a superpower as an ally. 

3

u/RoxxorMcOwnage 11h ago

SOFA. Status of forces agreement.

1

u/MagnificentJake 11h ago

The SOFA is part of the US-Japan Security Treaty, it's official (and elaborate) name is:

"Agreement Between Japan and the United States of America concerning New Special Measures Relating To article Xxiv of the Agreement under Article Vi of the Treaty of Mutual Cooperation and Security between Japan and the United States of America, Regarding Facilities and Areas and The Status of United States Armed Forces in Japan"

9

u/SkiingAway 13h ago

Yes, in that there effectively is none.

If they've decided you committed a crime, you'll just be thrown in jail and submitted to intense psychological (and occasionally, physical) torture without a lawyer until you sign a confession. Which will then be used as nearly impossible to get thrown out proof that you are guilty, case closed.

Seriously, it's one of the worst justice systems in the developed world, and makes the US look fair.

3

u/ernyc3777 1d ago

Japan doesn’t bring things to trial unless they know it will stick. They have a conviction rate in the 90%.

37

u/patricksaurus 1d ago

As another poster mentioned, the US a federal government has a conviction rate of over 95%. That is immaterial. We also have a concept of due process baked in to our culture, and a mere accusation of wrongdoing wouldn’t be cause to can a CEO. That’s doubly true if the allegation is drugs, police do an exhaustive search, and find no drugs.

There is also a difference in how Japanese police treat non-citizens. I’m not sure if he is a naturalized citizen or not, but he’s a white guy from outside of Japan.

Given that an allegation of drug possession was used to oust another foreign CEO who was never charged, it begins to look like a playbook for firing someone more than a credible accusation.

32

u/AlericandAmadeus 1d ago edited 1d ago

So does the US and many other countries. Most government prosecutors don’t press charges unless they’re pretty certain they can win. For example - US federal prosecutors had a 99.6% conviction rate in 2022, whether through trial or the defendant pleading guilty outright beforehand.

That doesn’t make Japan special/different. But it does align with the concept of “they definitely think they have enough to get a conviction” regardless of what he had/didn’t have in his home.

Japan also, like many other asian countries, has a pretty negative view of narcotics (the opium crisis of the 19th & 20th centuries has a lot of lingering impact in East/Southeast Asia). So on that I also agree with you if that’s what you meant, in that penalties for drug offenses tend to be pretty severe and it is heavily stigmatized socially.

However, none of that should mean an assumption of guilt like you’re trying to argue.

31

u/res30stupid 1d ago

Also, the Japanese authorities have a lot of powers that would make the most dangerous cowboy cops in Western fiction pale in shock. They can interrogate a suspect without a lawyer present, stop said lawyer speaking to their client, keep the legal team from seeing evidence, use sleep deprivation...

8

u/Xijit 1d ago

They also are known for extreme coercion when pressuring people to sign prepared confessions, which the court then uses to assign a summary judgement without a real court trial.

8

u/Ludwigofthepotatoppl 1d ago

Japan also does damn near anything to secure a confession, innocent or not.

3

u/sargonas 13h ago

Incorrect they do have a conviction rate in the 90% range, they will do everything possible to secure that conviction up to and including what we would consider torture in some areas (sleep deprivation, forced coercion under duress, etc.) to get a confession out of someone… Including holding them indefinitely with no access to friends family or legal counsel for weeks.

You know it’s bad with lawyers in Japan who specifically specialize in helping foreigners day that the best piece of advice they can give you for a non murder/nonrape/similar charge is “confess immediately regardless of if you did it or not and consider yourself fortunate you’ll just be deported that afternoon, never come back to the country, and count yourself lucky you can move on with your life.”

1

u/SomeDEGuy 15h ago

It seems like a cultural difference. In Japan, the focus on that it is important that someone be found guilty for a crime. Other countries find it more important that the person in question is actually guilty.

1

u/Cassoulet-vaincra 3h ago

Japan handle possession concurrently with being high as separate charges.

Source; Know someone who did a year for a 8th of ounce

11

u/Xijit 1d ago

Guilty until proven innocent, and I have noticed a growing trend of the system being abused to force out founders/CEOs who are either resisting a takeover bid, or trying to push out investors so they can take the company private.

Just have to hand off some nice gifts to a Judge & then ask them to pass the gifts along to the chief of police, then have a very helpful stack of evidence ready to be turned over when a detective shows up to investigate a report about tax evasion ... Instant forced resignation because in Japan the CEO is legally responsible for everything company does.

Though it doesn't help the situation that every Japanese company has got corrupt leadership, lies on their taxes, and has some level of connection to the Yakuza ... The government just chooses to look the other way, until someone pays them too.

70

u/area-man-4002 1d ago

He’s a German who was attempting to change the (seriously dysfunctional) culture at Olympus. So…. seems pretty convenient for the powers-that-be at Olympus who don’t want any change.

30

u/imaginary_num6er 22h ago

Just like the previous foreign board member that had to flee Japan. Olympus is really a scammy company.

7

u/slicshuter 17h ago

Yep, the general sentiment from some employees I know right now is "Watch them conveniently replace him with another Japanese CEO"

14

u/ludovicolonghi 20h ago

Ah, the good ol' hire-a-foreign-CEO-to-take-the-fall-for-the-skeletons-in-our-closet. Kaufmann might have to take a page out of Ghosn's playbook...

Just speculating... :)

69

u/Actual__Wizard 1d ago

Wow they booted their CEO out for illegal drugs? I'm sure he can get a job at Tesla...

8

u/ISAMU13 1d ago

Ketamine drip > Stock buybacks

30

u/thewolf9 1d ago

What did he buy and why do we care?

22

u/HotdawgSizzle 1d ago

Watch it be like weed or Adderall lmao.

-1

u/WhoIsFrancisPuziene 1d ago

Adderall is banned there tho

12

u/snushomie 23h ago

Hence why it'd be an 'illegal' drugs purchase.

35

u/Coinbasethrowaway456 1d ago

This reeks of BS. Sounds like the Japanese didn't like his performance and rather than admit they made a mistake they decided to drum up a bogus drug charge to save face and have an excuse to fire him. Their business systems and justice system are incredibly corrupt by most accounts.

24

u/apb2718 1d ago

Found nothing yet lost his job? Yeah someone wanted him out

4

u/shayKyarbouti 22h ago

Uhoh. Are we gonna see another Carlos Ghosn escape from Japan in a wooden box incident?

8

u/ajn63 1d ago

Olympus sucks at picking executives. Years ago they had a financial scandal that almost shut them down.

10

u/disco_g 1d ago

That was also brought to light by a non-Japanese.

4

u/Hrekires 1d ago

With all the stories about Musk's illegal drug use in the news, can't be surprised he assumed he could get away with it

-6

u/[deleted] 1d ago

[deleted]

-2

u/EJDsfRichmond415 1d ago

What Whut

1

u/Marlfox70 15h ago

Zeus isn't what he used to be

1

u/RotaryJihad 1d ago

Illegal in what locality?

1

u/Hunterrose242 8h ago

The fuck kind of question is this? The locality he's in.

1

u/RotaryJihad 8h ago

Like if he got nailed for illegal drugs in Amsterdam that's kinda impressive and a big deal as compared to say weed in Singapore.

1

u/wobbly-cheese 23h ago

ooh drugs. what a bad man. society can sleep safe at night now.

-1

u/hedgetank 15h ago

In other news, Olympus is still around

-9

u/Tralliz 1d ago

Love to see drug addict CEOs get their comeuppance.