Tag Archives: olympus

Olympus says being sued by six banks for $273 million over 2011 scandal

A man passes a logo of Japan's Olympus outside the company showroom in Tokyo

By Sophie Knight TOKYO (Reuters) - Olympus Corp on Wednesday said six Japanese trust banks have filed a lawsuit against the endoscope maker seeking 27.9 billion yen ($273 million) for damages relating to a $1.7 billion accounting scandal in 2011. The six banks, which include State Street Trust and Banking Co Ltd, Mitsubishi UFJ Trust ...

Olympus says six banks sue for 27.9 billion yen compensation over 2011 scandal

A man passes a logo of Japan's Olympus outside the company showroom in Tokyo

TOKYO (Reuters) - Olympus Corp said on Wednesday that six trust banks have filed a lawsuit against the medical equipment maker seeking 27.9 billion yen ($273 million) in compensation related to false financial statements on losses from fiscal year 2000 to 2011. The six trust banks include State Street Trust and Banking Co Ltd, Mitsubishi ...

Olympus scales back, shifts focus to turn around fortunes

Olympus scales back, shifts focus to turn around fortunes

Beleaguered camera maker Olympus vows to shed around 2,700 jobs and heavily restructure its business following a major accounting scandal. That works out that around seven percent of its total global workforce will be cut, with Olympus also aiming to sell unused property and close its Philippines plant over the next two years. ...

Olympus shares rise on report Panasonic to take stake

TOKYO (Reuters) - Shares of Olympus Corp rose 3.3 percent to 1,374 yen on Wednesday after Kyodo news agency said Panasonic Corp is making final arrangements to provide up to 50 billion yen ($635 million) in capital to the scandal-hit firm. The move will make Panasonic the top shareholder in Olympus, which has been hit ...

Panasonic to provide Olympus with up to 50 billion yen in capital: Kyodo

A man walks behind a logo of Japan's Olympus Corp at the company headquarters in Tokyo

TOKYO (Reuters) - Panasonic Corp is making final arrangements to provide up to 50 billion yen ($635 million) in capital to Olympus Corp in a move that will make Panasonic the top shareholder in the company, which has been hit by a massive accounting scandal, Kyodo news agency reported. Panasonic, a leading electronics maker struggling ...

Olympus to cut 2,500 jobs, sell equity stake: media

A man is seen next to an Olympus logo at an electronics shop in Tokyo

TOKYO (Reuters) - Japan's Olympus Corp, hit by a $1.7 billion fraud scandal, plans to shed 2,500 workers and sell an equity stake to either Sony Corp or Panasonic Corp in a bid to bolster its finances, local media reported Wednesday. Olympus, the world's leading maker of diagnostic endoscopes, is struggling to recover from an ...

Olympus creates world’s thinnest industrial videoscope, packs HDR (video)

Filed Under Cameras Olympus creates world

Though its medical brethren are considerably slimmer, at 2.4mm in diameter, Olympus says its iPLEX TX is the most slender industrial videoscope on our big blue marble. Rather than using traditional fiber optics to capture footage reminiscent of comic book print, the iPLEX TX houses a miniature CMOS atop one end of the ...