This blog has previously discussed the importance of businesses of all sizes having strong record keeping practices. Especially when expanding into a new country, entrepreneurs must ensure that all financial documents are in proper order. A failure to account for even a seemingly minute detail could lead a company toward heavy fines and issues with taxes.
For example, Japan's Olympus Corp is trying to bounce back after the company lost 80 percent of its value in the months following a $1.7 billion accounting fraud. Currently, the organization is one-quarter above its pre-scandal level, according to the Chicago Tribune.
Trouble in the Medical Equipment Business
Olympus wants to raise shares to expand its medical devices business and rebuild its financial health. The company explained in a statement this week that shares will be offered mainly to overseas investors in the United States and Europe.
"Olympus became entangled in one of Japan's biggest accounting scandals in October 2011 as its British chief executive turned whistleblower and revealed details of investment losses the camera and medical equipment company hid for decades," the article explained.
Medical Translation Services
Additionally, Olympus controls roughly 70 percent of the global market for gastrointestinal endoscopes and has plans to sell 4 million of its own common stock, a majority of which will go through SMBC Nikko Capital Markets, UBS Limited and Morgan Stanley.
Even if a business is not looking into overseas markets, it is crucial that all medical-related documents are detailed and accurate. Partnering with a translation agency that specializes in professional medical document translation can help account for all medical paperwork. While not all companies will experience a financial issue the size of Olympus, professional translation services will ensure that nothing is overlooked and an organization can find success in a new country. Whether you need medical or health care translation services we got you covered.