TOKYO (Reuters) – Japan’s Olympus admitted for the first time on Tuesday that controversial acquisitions had been used to cover up losses on securities investments dating back to the 1980s, succumbing to weeks of pressure that has battered the company’s share price.

Olympus President Shuichi Takayama blamed Tsuyoshi Kikukawa, who quit as president and chairman on October 26, Vice-President Hisashi Mori and auditor Hideo Yamada for the transactions, adding he would consider criminal complaints against them if necessary. Mori would be dismissed, the company said.

TOKYO/LONDON (Reuters) – Japan’s Olympus Corp replaced its auditor in 2009 after a disagreement over how to account for several acquisitions, but it decided not to reveal the dispute to investors, an internal document shows.

Olympus (7733.T: Quote, Profile, Research, Stock Buzz) has lost 55 percent of its market value since its former chief executive blew the whistle on a series of strange deals over the past five years, including the payment of a massive $687 million advisory fee.

TOKYO/LONDON (Reuters) – Japan’s Olympus Corp replaced its auditor in 2009 after a disagreement over how to account for several acquisitions, but it decided not to reveal the dispute to investors, an internal document shows.

Olympus (7733.T: Quote, Profile, Research) has lost 55 percent of its market value since its former chief executive blew the whistle on a series of strange deals over the past five years, including the payment of a massive $687 million advisory fee.

TOKYO/LONDON (Reuters) – Japan’s Olympus Corp replaced its auditor in 2009 after a disagreement over how to account for several acquisitions, but it decided not to reveal the dispute to investors, an internal document shows.

Olympus has lost 55 percent of its market value since its former chief executive blew the whistle on a series of strange deals over the past five years, including the payment of a massive $687 million (428 million pounds) advisory fee.

TOKYO/LONDON (Reuters) – Japan’s Olympus Corp replaced its auditor in 2009 after a disagreement over how to account for several acquisitions, but it decided not to reveal the dispute to investors, an internal document shows.

Olympus (7733.T: Quote, Profile, Research, Stock Buzz) has lost 55 percent of its market value since its former chief executive blew the whistle on a series of strange deals over the past five years, including the payment of a massive $687 million advisory fee.

TOKYO/LONDON, Nov 4 (Reuters) – Japan’s Olympus Corp
replaced its auditor in 2009 after a disagreement over how to
account for several acquisitions, but it decided not to reveal
the dispute to investors, an internal document shows.

Olympus (7733.T: Quote, Profile, Research) has lost 55 percent of its market value
since its former chief executive blew the whistle on a series of
strange deals over the past five years, including the payment of
a massive $687 million advisory fee.

TOKYO/LONDON, Nov 4 (Reuters) – Japan’s Olympus Corp
replaced its auditor in 2009 after a disagreement over how to
account for several acquisitions, but it decided not to reveal
the dispute to investors, an internal document shows.

Olympus (7733.T: Quote, Profile, Research) has lost 55 percent of its market value
since its former chief executive blew the whistle on a series of
strange deals over the past five years, including the payment of
a massive $687 million advisory fee.

TOKYO, Nov 1 (Reuters) – Japan’s Nomura Holdings
posted its first quarterly loss in 2-1/2 years on Tuesday due to
a slump in investment banking revenues and tripled its
cost-cutting target to $1.2 billion to cope with market
conditions a top executive said were about as tough as the 2008
financial crisis.

The debt crisis in Europe has ratcheted up pressure on
Japan’s top brokerage to tap the brakes on a global expansion
that started with its purchase of the Asian and European
businesses of failed Wall Street bank Lehman Brothers in 2008.

TOKYO (Reuters) – Nomura Holdings (8604.T: Quote, Profile, Research, Stock Buzz), Japan’s largest investment bank, posted its first quarterly loss in 2-1/2 years on Tuesday, hit by a slump in Japanese stocks and sluggish trading conditions in Europe and the United States.

Nomura lifted its cost-cutting target to $1.2 billion as the slump increased pressure on it to tap the brakes on an aggressive overseas expansion that started with the acquisition of the Asian and European businesses of failed Wall Street bank Lehman Brothers in 2008.

TOKYO (Reuters) – Daiwa Securities Group (8601.T: Quote, Profile, Research, Stock Buzz), Japan’s second-biggest brokerage, posted its third straight quarterly loss amid a slump in domestic stocks and said it would cut more than 300 overseas jobs as it braces for tough conditions ahead.

The overseas cuts, which include shutting down its proprietary trading operations in Hong Kong and Taiwan, represent a step backwards in its quest to expand in fast-growing Asian markets to offset poor growth prospects at home.