Apple supplier Japan Display on Wednesday said the company would review its past earnings after a former accounting executive notified the company of a past accounting fraud which he said was directed by former top management.
The executive, who was fired last year for embezzling about $5.3 million over four years since 2014, made the notification on Tuesday, Japan Display said in a statement.
The revelation comes as the cash-strapped company seeks to raise at least 50 billion yen ($460 million) through a bailout deal with Apple and other investors.
The company has already launched an internal investigation with its auditors and will announce results accordingly, the statement said.
MacDailyNews Take: What a clown show Japan Display is!