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Dec 2, 2011

Japan’s silent majority may find its voice over Olympus

TOKYO, Dec 2 (Reuters) – Some big Japanese
shareholders in disgraced firm Olympus Corp (7733.T: Quote, Profile, Research) may support
ex-CEO Michael Woodford’s campaign to return to the helm — a
once-unthinkable step for investors that are more usually known
for their discreet, hands-off approach.

Experts say that outcome, though still uncertain, would be a
rare case of activism and mark a big attitude change for
domestic financial institutions which traditionally hold shares
to cement business ties and prefer to avoid public battles.

Nov 30, 2011

Arrests in Olympus scandal could take weeks – lawyers

TOKYO, Nov 30 (Reuters) – Japanese authorities may take
weeks to make any arrests over the accounting scandal at Olympus
Corp, though initial findings by an investigative panel
of experts are due to be released in days, lawyers said.

The panel, set up by Olympus after the scandal broke in
mid-October, is due to report its findings in early December,
likely paving the way for criminal complaints against former
executives, the lawyers said.

Nov 22, 2011

Japan’s yakuza crackdown could derail effort to keep Olympus listed

TOKYO (Reuters) – Japanese police eager to show they are tough on organised crime could derail regulators’ efforts to save disgraced Olympus Corp from the devastating blow of delisting, raising the chances its core business will be bought out by a rival.

Japan’s securities watchdog, prosecutors and police, including a unit of the Tokyo police department’s organised crime division, are probing the firm after it admitted this month to hiding investment losses for decades through improper accounting.

Nov 22, 2011

Yakuza crackdown may derail effort to keep Olympus listed

TOKYO (Reuters) – Japanese police eager to show they are tough on organized crime could derail regulators’ efforts to save disgraced Olympus Corp (7733.T: Quote, Profile, Research, Stock Buzz) from the devastating blow of delisting, raising the chances its core business will be bought out by a rival.

Japan’s securities watchdog, prosecutors and police, including a unit of the Tokyo police department’s organized crime division, are probing the firm after it admitted this month to hiding investment losses for decades through improper accounting.

Nov 16, 2011

Exclusive: Olympus says preparing legal action against execs

TOKYO (Reuters) – Japan’s disgraced Olympus Corp is preparing to take legal action, including possible criminal complaints, against any executives found responsible for the accounting scandal engulfing the firm, according to an internal staff email.

The memo, obtained by Reuters on Wednesday, was sent to Olympus employees on Tuesday by the firm’s new president, Shuichi Takayama, who says he is striving to restore trust in the once-proud maker of cameras and medical equipment.

Nov 15, 2011

Japan walks tightrope to restore trust after Olympus scandal

TOKYO (Reuters) – Japanese regulators appear to be trying to regain the trust of investors unnerved by a scandal engulfing Olympus Corp, with a formula that would punish the executives responsible harshly but let the once-proud firm stay listed on the stock market.

But the formula requires a tricky balancing act from the regulators as they grapple with one of the nation’s biggest corporate scandals and with calls for more lasting reform.

Nov 15, 2011

Lenders unlikely to tighten screws on Olympus, for now

TOKYO (Reuters) – Olympus Corp’s creditors are not expected to demand changes in loan terms or take other abrupt steps and risk hurting their own interests when they meet company executives on Wednesday to grill them about the firm’s huge accounting scandal, sources and analysts said.

Japan’s securities watchdog, police and prosecutors are probing the 92-year-old camera and endoscope maker in a joint effort after Olympus admitted last week that it had hid investment losses for decades using funds from M&A deals.

Nov 15, 2011

Japan walks tightrope to restore trust after scandal

TOKYO (Reuters) – Japanese regulators appear to be trying to regain the trust of investors unnerved by a scandal engulfing Olympus Corp, with a formula that would punish the executives responsible harshly but let the once-proud firm stay listed on the stock market.

But the formula requires a tricky balancing act from the regulators as they grapple with one of the nation’s biggest corporate scandals and with calls for more lasting reform.

Nov 15, 2011

Analysis: Japan walks tightrope to restore trust after scandal

TOKYO (Reuters) – Japanese regulators appear to be trying to regain the trust of investors unnerved by a scandal engulfing Olympus Corp, with a formula that would punish the executives responsible harshly but let the once-proud firm stay listed on the stock market.

But the formula requires a tricky balancing act from the regulators as they grapple with one of the nation’s biggest corporate scandals and with calls for more lasting reform.

Nov 10, 2011

Japan police move on Olympus as investors demand clean-out

TOKYO (Reuters) – Japanese police have launched an investigation into the financial scandal engulfing Olympus Corp, a newspaper said on Thursday, as a major investor joined increasing calls for a wholesale clean-out of the board.

Tokyo Metropolitan Police are investigating the firm’s concealment of investment losses for possible violation of financial laws, the Yomiuri newspaper said, adding that police had asked Olympus for internal accounting documents and would also question Olympus executives and related officials.

    • About Linda

      "I direct a team of reporters responsible for covering politics, diplomacy, social and security policies in the world's second-biggest economy, as well as natural disasters, entertainment and lifestyle trends. I have been in my current position since April 1999 and prior to that was Chief Economics Correspondent, Japan."
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