Lex

Lex: Fujitsu

A big sell-off in Fujitsu shares might have been averted if the company had come clean at the outset over the strange affair of Kuniaki Nozoe, who resigned as president last September. At the time, the reason given was "illness"; last weekend, Fujitsu changed its story, claiming that he was pushed out over links to a company of "unfavourable reputation". Since news broke last Friday that Mr Nozoe was challenging his dismissal, Japan's largest IT services firm has lagged the local tech sector by 8 per cent, making it the second-worst performer on the Nikkei 225. Ben McLannahan looks at the intriguing affair.