- Panel Urges Legal Action in Damning Report on Olympus
An independent panel issued a damning report into the $1.7 billion (1 billion pounds) accounting scandal at Japan's Olympus Corp, urging legal action against executives behind the cover-up and the replacement of others who knew about it. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus shareholders told to reject board picks
An influential investment advisory firm has told Olympus shareholders to reject the Japanese company's nominees for key board positions, citing their connections with creditors or their competence.The firm's management, attempting to rebuild its reputation following a $1.7 billion cover-up scandal, has recommended former executives of its main banks as chairman and director. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Shareholder sues Olympus board for firing Briton
A single Japanese shareholder of scandal-hit Olympus has sued 14 board members who sacked whistle-blowing British former chief executive Michael Woodford, according to lawyers.The shareholder, an anonymous man living in western Japan, filed the lawsuit on Tuesday, demanding the executives pay Olympus 1.34 billion yen ($17.5 million) for costs resulting from Woodford's firing, one of his lawyers said.Woodford, the first non-Japanese to lead the camera and medical equipment maker, was fired in October after revealing a cover-up of $1.7 billion in losses at the firm. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus Executives May Seek to Keep Their Jobs, President Says
Company officers who were not directly implicated in a scheme to cover up past losses should not have to step down, Olympus’s president, Shuichi Takayama, said. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus and Honor
I cannot boast of having figured it out myself, but when somebody last week suggested that the mysterious hugely loss-making transactions engaged in by Olympus had been a guise for canceling hidden historical losses, I immediately said to myself: of course, that is it. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Tense Time at Olympus as Ex-Chief Meets Board
Michael C. Woodford, who remains a director of the company but who left Japan after he was fired, returned this week to meet with investigators looking into the scandal surrounding the company. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Fired Olympus CEO Confronts Colleagues Who Ousted Him
Michael Woodford, who publicized questionable acquisitions by fellow board members, says he would consider returning to helm マイケルウッドフォード、仲間のボードメンバーによる公。疑わしい買収は、彼が指揮に戻った検討したい語る
- Olympus may sue executives for losses
Olympus Corp, the camera maker that admitted hiding losses for more than a decade, said it is considering suing present and past executives after receiving a report from a panel probing management responsibility for the cover-up.
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- Olympus posts $620 million annual loss
Olympus on Thursday posted a $620 million loss in the fiscal year to March after a cover-up scandal at the camera and medical equipment maker which hammered Japan's corporate-governance image.The firm said it lost 48.99 billion yen ($620 million) in the period, after a scandal that sparked lawsuits and the arrest of former executives accused of hiding about $1.7 billion in losses. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Aubrey McClendon And The Sex Metaphor
Perhaps the most celebrated diviner in the annals of mythology was the blind prophet Tiresias of Thebes. His blindness was no accident of birth as will be clarified shortly. Anyway, legend has that Mr. Tiresias was strolling through the forest on Mt. Cithaeron minding his own business when he came upon two snakes coupling. When he struck the female with his staff she was so infuriated she turned him into a woman. Fast forward some years and again Tiresias gazed upon snakes in their mating. On this occasion his staff made contact with the male and with that he regained his manly attributes. More time passes and the venue shifts high atop Mt. Olympus where Zeus and cantankerous wife Hera engage in dissension as to who enjoys the pleasures of lovemaking more, man or woman. Hera insists it is man while Zeus casts his lot with females. Since Tiresias had expertise as member of both sexes, he was summoned as final arbiter. (Take note here.) Tiresias responds “if the number ten represented the total for these pleasures, woman enjoys nine parts, man but one.” Hera became so incensed that she blinded Tiresias. Taking pity on the young man Zeus made recompense by bestowing upon him the power of prophecy and long life which was to last seven ordinary lives. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Japan's scandal-hit Olympus delays earnings report
Scandal-hit Japanese camera maker Olympus on Friday said it will postpone its first-half earnings release, citing the recent launch of an independent investigation into the acquisitions of four firms.Olympus had originally planned to release its earnings report on November 8 but on Friday said it needed more time to compile the results, which it now hopes to publish by the end of November. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus shareholders lodge $3.6 million damages suit
TOKYO (AFP) - A group of Japanese shareholders have filed a lawsuit against disgraced Olympus, demanding US$2.9 million (S$3.6 million) for investment losses after a huge accounting scandal depressed the firm's shares. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- New Olympus board promises no more scandals
TOKYO (AFP) - The new board of Japan's Olympus pledged on Thursday there would be no more accounting scandals at the camera and medical equipment maker, as it defended a payout to its whistleblowing former chief. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus Forecasts Loss for Its Financial Year
The loss estimate for the financial year ending in March, ¥32 billion, highlights the urgent need for Olympus to shore up its finances after its $1.7 billion accounting scandal. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Former Executives and Bankers Arrested Over Olympus Fraud
Three former executives of disgraced medical equipment and camera maker Olympus Corp were arrested on Thursday over their role in a $1.7 billion accounting fraud, one of Japan's biggest corporate scandals. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Japan Prosecutors Charge Key Figures in Olympus Scandal
Tokyo prosecutors on Wednesday charged Olympus Corp and six key figures in the $1.7 billion accounting fraud at the camera and endoscope maker, tightening their case in the investigation of one of Japan's biggest corporate scandals. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus warns of £260m annual losses
Camera maker has lost 60% of its value since October after sacked chief executive blew whistle on inflated takeover costsThe consumer and medical camera maker Olympus, which is embroiled in an accounting fraud case, has warned that its annual losses will be even worse than analyst estimates, totalling ¥32bn (£260m).The company, which reported third-quarter results to the Tokyo stock exchange on Monday morning, said the losses were not linked to the fraud.Olympus has lost 60% of its value since October after its sacked chief executive, Michael Woodford, blew the whistle on inflated takeover costs that were used to hide bad investments.Analysts from Barclays Capital and Deutsche Bank had forecast a ¥25.5bn average loss in the year to 31 March 2012.Operating profit is expected to decline by 6.2%, to ¥36bn, while revenue may increase 0.8% to ¥854bn.While the revenue forecast matched estimates, the operating profit forecast missed the average estimate of ¥41bn. Sales in the third quarter, to 31 December, were up 1.7% to ¥210bn.The company is not in any concrete talks on tie-ups and any such steps should be left for new management to decide on, its outgoing president, Shuichi Takayama, told reporters.Olympus is considering ways to boost capital after it restated past securities reports and wrote down the value of its assets by £800m in December. Shareholders will vote on new management at a meeting called for 20 April.Last month, the Tokyo Stock Exchange allowed Olympus to keep its stock market listing by fining it £80,000 and telling it to submit reports on efforts to improve management.The exchange put Olympus on a watchlist last year after the company admitted inflating fees to advisers on the £1.3bn acquisition of the London-listed Gyrus Group in 2008 and overpaying for t null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus should sue corrupt executives: In-house probe
TOKYO (AFP) - Scandal-hit Olympus' in-house panel has ruled that the firm should sue current and former executives for damages caused by their decision to hide massive investment losses, reports said on Sunday. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus Removes British President After 6 Months
The Japanese camera and precision instruments maker dismissed Michael Woodford after just six months because of boardroom and management conflicts. 日本のカメラや精密機械メーカーは、理由会議室や管理の競合のわずか6ヶ月後にマイケルウッドフォードを棄却した
- Olympus scandal triggers Japan shareholder activism
TOKYO (AFP) - After British whistleblower Michael Woodford was sacked as CEO of Olympus and revealed the Japanese firm had covered up losses of US$1.7 billion (S$2.2 billion), he mounted a campaign to get his job back. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus return ruled out by ousted CEO Michael Woodford - video
Michael Woodford, the former CEO and president of Olympus, has ruled out a return to the company
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- Japan prosecutors raid Olympus
Japanese prosecutors have raided Olympus Corp's Toyako headquarters as an investigation continues into the company's cover-up of massive losses. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus shares surge on TSE move
Shares of Japanese camera company Olympus jump 7%, after it was allowed to continue trading on the Tokyo Stock Exchange (TSE). null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Ex-Olympus chief and two executives quit board
Olympus's ex-chairman and two other directors have quit the firm's board, the company said, in the wake of a loss cover-up scandal unveiled since the sacking of the firm's British chief executive.Tsuyoshi Kikukawa resigned from the firm's board ahead of a key company meeting Friday, it said in a statement late Thursday, adding that its disgraced former executive vice president and corporate auditor also formally stepped down as company directors. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Three Olympus board members quit
Three directors stand down at scandal-hit Olympus ahead of a key Tokyo board meeting that will be attended by the firm's former chief executive. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus Board Resigns, Taps Chairman From Bank
Yasuyuki Kimoto, former executive at Sumitomo Mitsui bank, will take over as chairman of the Japanese medical equipment maker, which has been embroiled in a scandal involving the cover-up of massive losses. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Securities watchdog files fraud complaint against Olympus executives
Japan's securities watchdog became the latest authority to file a criminal complaint against Olympus Corp, some former executives and outside advisers over the company's US$1.7 billion (HK$13.2 billion) accounting fraud.
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- Regulator Takes Aim at Olympus
The Japanese securities regulator said it would file criminal complaints against the camera maker, as well as former executives and outside advisers to the company, related to its accounting fraud. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Embattled Olympus to Remain on Tokyo Stock Market
Olympus will not be kicked off the Tokyo Stock Exchange, but it must pay a fine for covering up massive losses with false accounting, exchange officials said. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Regulator weighing levy on Olympus
Japan's securities watchdog might recommend that a levy be imposed on Olympus for false financial reports, a source familiar with the case said yesterday, a move which could prevent a delisting of the company's shares over one of the country's biggest corporate scandals.
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- Olympus board may resign at next year's shareholders meeting
TOKYO, Dec.7 (Xinhua) -- The present of Japan's Olympus Corp. Shuichi Takayama said Wednesday that the current board members may resign at next shareholders meeting as soon as next Feb. for covering the 117.7 billion yen losses which dating back to the 1990s.
The Japanese camera and medical equipment maker, involved in massive accounting cover-ups, held a press conference to announce the decision of setting up a special panel to investigate up to 70 people, who possibly have responsibility fo ... null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus posts nine-month net loss of $426 million
Scandal-hit Olympus on Monday reported a net loss of 33.08 billion yen ($426 million) for the nine months to December amid a massive accounting cover-up that has tarnished the image of corporate Japan.For the full-year to March, the camera maker also said it expects a net loss of 32.0 billion yen, owing to one-off costs unrelated to the loss scandal.The forecast is the first since the scandal broke last year, with the company previously saying it could not make a full-year projection because it did not know the full ramifications of the scandal. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Former Olympus executives arrested over accounting fraud – video
The former CEO of Olympus, Michael Woodford, says there are still questions that need answering after three former Olympus executives – including ex-president Tsuyoshi Kikukawa – were arrested
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- Olympus and ex-officials charged
Japanese prosecutors said Wednesday they had charged scandal-hit Olympus and three former senior executives over a huge loss cover-up.It came as the 20-day detention period of former president Tsuyoshi Kikukawa, named as a key player in a scheme to shift $1.7 billion of losses from the camera-maker's balance sheet, expires. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Auditors Not Involved in Cover-Up, Olympus Says
A report released Tuesday said that Olympus’s executives had so cleverly buried losses that the company’s external auditors could not have uncovered them. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Arrests in Olympus Corp. Fraud Case
When Michael Woodford took over as CEO of Japan's Olympus Corp. last year, he could hardly foresee that within a year he would uncover a massive fraud at the company, investigate it, be fired for investigating it, try to make a comeback to take control of Olympus and see its Chairman arrested for being a part of the fraud. Such is the life of Mr. Woodford. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Former Olympus CEO returning to Japan: report
Former Olympus chief Michael Woodford will return to Japan on Tuesday, according to a report, on the eve of the deadline for the scandal-hit firm to file its accounts or risk a delisting from Tokyo's bourse.Woodford -- first ever non-Japanese president and chief executive of the camera and medical equipment maker, who was ousted on October 14 -- will meet investors and members of the ruling Democratic Party of Japan, Kyodo News said. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Ex-Olympus head to meet Japan investigators
The ousted chief of scandal-hit Olympus, Michael Woodford, on Thursday began meeting Japanese investigators over a cover-up of huge investment losses dating back to the 1990s, pledging the truth would out.The Briton is in Japan for the first time since Olympus abruptly stripped him of his title on October 14, only six months after appointing him its first ever non-Japanese president and two weeks after he was also named chief executive. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Olympus 'to correct 20 years of financial figures'
TOKYO (AFP) - Japan's Olympus mired in a loss cover-up scandal plans to correct financial statements going back two decades while authorities are set to question former managers, media reports said on Saturday. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- 日向と日陰
最寄りの里山
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- Japan investment firm probed over huge pension loss
Japan froze operations Friday at an investment firm accused of losing most of the $2.3 billion in pension funds it manages, as a report said it may have hidden losses for years in an Olympus-style scandal.The head of the Financial Services Agency (FSA), Shozaburo Jimi, suspended AIJ Investment Advisors until March 23 as it carries out a probe into one of the biggest cases of its kind in the country. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Cutting-edge drillship arrives in Gulf of Mexico
HOUSTON, Dec. 7 (Xinhua) -- A drillship capable of working in water up to 10,000 feet has arrived in the Gulf Mexico and will begin work soon, Shell said Wednesday.
After testing and trials, the Noble Bully I drilling rig will begin work for Shell on its Mars B Olympus development, Shell said.
The rig and a similar one, the Noble Bully II, are designed jointly by Shell and Noble to be positioned at a favorable angle toward wind, waves, and currents, and feature ice-class hulls, the company ... null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- 7 Arrested in Olympus Accounting Cover-Up
Tsuyoshi Kikukawa, a former chairman and president of the company, was among those charged with falsifying financial statements. null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
- Fired Olympus CEO dismisses internal probe
LONDON (AP) - The ousted chief executive of Japan's Olympus Corp says the company isn't doing enough to investigate a massive US$687 million (S$874.5 million) payment to mysterious financial advisers as part of a takeover. ロンドン（AP） - 日本のオリンパスCorpの追放された最高経営責任者（CEO）は、同社が大規模な米国6.87億ドル（S8.745億ドル）買収の一環として、神秘的な金融アドバイザーへの支払を調査するのに十分やっていないと言う
- Olympus shares plunge following chief ouster
TOKYO (AFP) - Shares in Japanese camera and precision equipment maker Olympus dived 23 per cent on Monday, hitting a more than two-year low as the abrupt demotion of its first non-Japanese CEO clouded its outlook. 東京（AFP） - 日本のカメラや精密機器メーカーのオリンパスの株式は、その見通しを曇らせ、その最初の非日本人CEOの突然の降格として以上2年ぶりの安値を打つ、月曜日に23％を飛び込んだ
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