The former president of Olympus and two senior executives have received suspended jail terms for their roles in the £1.1bn accounting scandal at the camera and medical equipment-maker.
The fraud emerged in 2011 when the company's then-chief executive, Briton Michael Woodford, raised questions about dubious payments for financial advice and acquisitions.
He was subsequently sacked but later became a hero in Japan, where whistleblowers were routinely treated as outcasts.
Mr Woodford agreed to a reported £10m payout last year to settle a wrongful dismissal lawsuit.
Former Olympus president Tsuyoshi Kikukawa The investigation revealed losses at Olympus dating back to the 1990s and the company was fined 700m yen (£4.6m).
The Tokyo District Court has ruled that former Olympus president Tsuyoshi Kikukawa and the other two executives were guilty of violating securities laws and falsifying financial statements.
The court ordered prison terms of three years for Kikukawa and one of the other men - an auditor - and two-and-half years for the third man.
But the terms were all suspended for up to five years when factors including their age and guilty pleas were taken into consideration.
Chief judge Hiroaki Saito said their actions at Olympus had undermined faith in the Tokyo stock market and shook corporate Japan's international credibility.
The company "systematically" carried out the cover-up in which executives took advantage of their authority and financial expertise, he said.
"Their failure to report the losses and falsification of financial statements is a totally unacceptable act for a socially responsible company," the judge said.
:: Michael Woodford will be a guest on Wednesday's edition of Jeff Randall Live, at 7pm on Sky News.
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