Correction: NOT WSJ but Yahoo Finance: Olympus one of 10 brands to disappear in 2014

Started May 26, 2013 | Discussions thread
rrr_hhh
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Re: WSJ: Olympus one of 10 brands to disappear in 2014
In reply to MichaelKJ, May 27, 2013

MichaelKJ wrote:

rrr_hhh wrote:

dpreviewreader wrote:

rrr_hhh wrote:

Y1981 wrote:

IMO the worst thing could happen to Olympus is to be bought by Sony or something like that.

But Sony already has 51% of the Olympus shares. that is how Olympus solved its financial woes After the scandal of the last wo years.

Sony has 10% stake in Olympus, not 51%.

http://www.reuters.com/article/2012/09/25/us-sony-olympus-idUSBRE88O0AE20120925

I think that you are right after all, it must be the new members who entered the board (aka bankers etc.) who have 51% not Sony alone, but I think that Sony as the buggest shareholder has got something like the presidency of the board ?

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rrr_hhh

What makes you think new members have >50% of the board? Hiroyuki Sasa is listed as President and Representative Board Director. Sasa was head of Olympus at the time Sony became a 10% owner, and has no previous relationship with Sony.  I don't pretend to begin to understand how boards operate in Japan, but I do know that one can't assume that their operation is similar to that in the USA and other countries.

I was thinking to that document : http://www.olympus-global.com/en/common/pdf/nr120928e_03.pdf

I have just read it again and see that it concerns a new company that Sony and Olympus agreed to create together (a common venture). But if you read the goal of the new company, it will be something very important for both Sony & Olympus and there will be 7 members in the board, 4 from Sony and 3 from Olympus. It

There are more Olympus info here http://www.olympus-global.com/en/info/  (all official press releases and more).

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rrr_hhh

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