Olympus to liquidate 3 Japanese firms...

Started Dec 20, 2011 | Discussions thread
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Olympus to liquidate 3 Japanese firms...
Dec 20, 2011

Olympus to liquidate 3 Japanese firms used for loss coverup

TOKYO, Dec. 20, Kyodo News Agency

Olympus Corp. is considering liquidating three unlisted Japanese companies whose acquisitions were used by the camera and medical equipment maker to cover up massive investment losses dating back to the 1990s, sources close to the matter said Tuesday.

Olympus is also considering boosting its capital by about 100 billion yen as its group net worth decreased sharply after it corrected past earnings reports, the sources said.

To raise capital, Olympus is likely to mainly issue preferred shares, as such companies as Fujifilm Holdings Corp., Sony Corp. and Terumo Corp. have shown interest in acquiring shares, the sources said.

Be interesting to see how this all pans out and how exactly it is going to change or alter how things move forward from here...

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