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Olympus Corp ex-officials charged in scandal
Prosecutors said Wednesday they had charged scandal-hit Olympusand three former senior executives over a huge loss cover-up at the company that rocked confidence in corporate Japan. It came as the 20-day detention period of former presidentTsuyoshi Kikukawa, named as a key player in a scheme to shift $1.7 billion of losses…
Top Olympus executive found dead in India park: report
(Reuters) – A top executive of Japan’s scandal-ridden Olympus Corp has been found dead in a park outside New Delhi, an apparent suicide, The Times of India said Tuesday, quoting police. Tsutomi Omori, 49, who was head of Olympus’s medical equipment business in India, was found hanging from a boundary…
Sony seeking Olympus stake: report
Japanese electronics giant Sony is in talks to take a stake of up to 30 percent in Olympus as the camera firm looks to shore up its finances after a $1.7 billion cover-up scandal, a report said Tuesday. The electronics giant has proposed a capital and business tie-up with the camera and medical…
Olympus sues current and past executives
Scandal-hit Olympus is suing some 20 current and former executives for damages over a massive investment loss cover up at the Japanese firm, reports said Monday. The law suits filed Sunday named ex-president Tsuyoshi Kikukawa, pegged as playing a major role in the embarrassing affair, and his successor Shuichi Takayama, the Yomiuri Shimbun said,…
Olympus meets filing deadline to avoid delisting
Scandal-hit Olympus on Wednesday filed its delayed earnings report to the Tokyo Stock Exchange, avoiding an automatic delisting that would have wiped out the value of the 92-year-old company. Shortly after the Tokyo bourse closed for the day, the company revealed it had lost 32.3 billion yen ($414 million) in the first half…
Olympus ex-presidents approved loss cover-up: panel
The committee probing a massive cover-up of losses at Japan’sOlympus said Tuesday two former presidents approved the long-running scheme and that core management at the firm had been “rotten”. The panel of lawyers and an accountant chosen by Olympus said Tsuyoshi Kikukawa and his predecessor Masatoshi Kishimoto had backed the plan to…
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