Nathan's Feed
Dec 19, 2011

Olympus board may dilute capital to retain control: Southeastern

TOKYO/LONDON (Reuters) – A big foreign investor in Japan’s disgraced Olympus Corp (7733.T: Quote, Profile, Research, Stock Buzz) voiced its concern on Monday that the firm would bring in a major new investor, in a move that could effectively sink former CEO Michael Woodford’s campaign to be reinstated.

U.S. fund manager Southeastern Asset Management, which holds 5 percent of the maker of cameras and medical equipment, said in a statement it was worried the current board may be gearing up to dilute existing shareholders in a bid to stay in power.

Dec 19, 2011

Southeastern fears Olympus board may dilute capital to retain control

TOKYO/LONDON, Dec 19 (Reuters) – A big foreign
investor in Japan’s disgraced Olympus Corp voiced its
concern on Monday that the firm would bring in a major new
investor, in a move that could effectively sink former CEO
Michael Woodford’s campaign to be reinstated.

U.S. fund manager Southeastern Asset Management, which holds
5 percent of the maker of cameras and medical equipment, said in
a statement it was worried the current board may be gearing up
to dilute existing shareholders in a bid to stay in power.

Dec 16, 2011

The masterminds of the Olympus coverup

TOKYO/HONG KONG, Dec 16 (Reuters) – Akio Nakagawa, a
60-year-old semi-retired Japanese banker, had seemingly
vanished.

Nakagawa was at the center of one of corporate Japan’s
biggest scandals: the decades-long cover-up of losses at Olympus
Corp (7733.T: Quote, Profile, Research). Japanese and U.S. investigators wanted to quiz
him about the record $687 million advisory fee his firms had
received on a single deal from the famed maker of cameras and
endoscopes.

Dec 16, 2011

Special Report: The masterminds of the Olympus coverup

TOKYO/HONG KONG (Reuters) – Akio Nakagawa, a 60-year-old semi-retired Japanese banker, had seemingly vanished.

Nakagawa was at the center of one of corporate Japan’s biggest scandals: the decades-long cover-up of losses at Olympus Corp. Japanese and U.S. investigators wanted to quiz him about the record $687 million advisory fee his firms had received on a single deal from the famed maker of cameras and endoscopes.

Dec 15, 2011

Japan’s disgraced Olympus says may rehire ex-CEO

TOKYO (Reuters) – Japan’s disgraced Olympus Corp said on Thursday it would consider reinstating Michael Woodford, the British chief executive it sacked two months ago and who blew the whistle on a fraud that has left it weakened and in need of fresh capital.

Woodford’s return would mark a dramatic climb-down by the existing board of Olympus, which had unanimously fired him in October after he had queried the firm’s dubious book-keeping. The firm later admitted to uncovering a $1.7 billion fraud.

Dec 15, 2011

Disgraced Olympus says may rehire ex-CEO Woodford

TOKYO (Reuters) – Japan’s disgraced Olympus Corp (7733.T: Quote, Profile, Research) said on Thursday it would consider reinstating Michael Woodford, the British chief executive it sacked two months ago and who blew the whistle on a fraud that has left it weakened and in need of fresh capital.

Woodford’s return would mark a dramatic climb-down by the existing board of Olympus, which had unanimously fired him in October after he had queried the firm’s dubious book-keeping. The firm later admitted to uncovering a $1.7 billion fraud.

Dec 15, 2011

Japan’s disgraced Olympus says may rehire ex-CEO Woodford

TOKYO, Dec 15 (Reuters) – Japan’s disgraced Olympus
Corp said on Thursday it would consider reinstating
Michael Woodford, the British chief executive it sacked two
months ago and who blew the whistle on a fraud that has left it
weakened and in need of fresh capital.

Woodford’s return would mark a dramatic climb-down by the
existing board of Olympus, which had unanimously fired him in
October after he had queried the firm’s dubious book-keeping.
The firm later admitted to uncovering a $1.7 billion fraud.

Dec 15, 2011

Shares in Japan’s disgraced Olympus dive on balance sheet worries

TOKYO, Dec 15 (Reuters) – Japan’s disgraced Olympus
Corp said on Thursday it would consider reinstating
Michael Woodford, the British chief executive it sacked two
months ago and who blew the whistle on a fraud that has left it
weakened and in need of fresh capital.

Woodford’s return would mark a dramatic climb-down by the
existing board of Olympus, which had unanimously fired him in
October after he had queried the firm’s dubious book-keeping.
The firm later admitted to uncovering a $1.7 billion fraud.

Dec 14, 2011

Nexon slips after Tokyo IPO, may sting Zynga debut

TOKYO (Reuters) – Online gaming firm Nexon Co slipped on its trading debut on Wednesday following a $1.2 billion (775 billion pound) IPO, Japan’s biggest this year, and may signal a bumpy ride for U.S.-based rival Zynga, which debuts on Nasdaq later this week.

Zynga, which has developed the popular FarmVille and Mafia Wars games for Facebook, has had to trim its near-$1 billion IPO – the largest from a U.S. Internet company since Google Inc in 2004 – because of weak financial markets. It is due to price its offering on Thursday.

Dec 14, 2011

Games company Nexon slips in Tokyo debut

TOKYO (Reuters) – Online gaming firm Nexon Co, an Asian rival to U.S.-based Zynga, slipped lower on its first morning of trading on Wednesday, following its $1.2 billion IPO, Japan’s biggest this year.

Nexon, founded in South Korea almost two decades ago, offers PC-based games for free, while charging users small fees for in-game virtual items such as clothing for avatars — a so-called freemium model that analysts see as relatively recession-proof.