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Noda acknowledged it might be considered inappropriate for a prime minister to comment on a private company but told the FT that Olympus had indicated that it would set up a third-party committee to look into the payments. "I want them to fully clarify the facts and act on them appropriately," he said. Noda expressed his unease about the impact the scandal involving Olympus could have on Japan's reputation as a rules-based market company. "What worries me is that it will be a problem if people take the events at this one Japanese company and generalize from that to say Japan is a country that the rules of capitalism." The scandal surrounding the Olympus began when the company fired its British President and Chief Executive Michael Woodford on October 14, just two weeks after his appointment as CEO, saying he failed to understand the company's management style and Japanese culture. Woodford in turn said he was sacked for questioning a $687 million advisory fee paid in relation to a $2.2 billion takeover in 2008, as well as other deals. (Reporting by Stephen Mangan; editing by Sofina Mirza-Reid) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) 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