Police raid Olympus HQ in cover-up scandal

2011-12-21T08:30:40Z

Police and prosecutors raided the headquarters of embattled camera-maker Olympus on Wednesday as a probe into corporate wrongdoing that has shamed Japan stepped up a gear.

Nearly 10 weeks after allegations of massive corporate subterfuge emerged in the international media, the slow-motion raid got under way while the

Prosecutors raid Olympus over accounting scandal

2011-12-20T20:00:07Z

TOKYO (Reuters) - Japanese prosecutors raided Olympus Corp <7733.T> and the homes of former executives on Wednesday over a $1.7 billion accounting scandal that has threatened the survival of the once-proud camera and medical equipment maker.

Tokyo prosecutors, police a...

Olympus units raided over accounting scandal: media

2011-12-20T19:30:46Z

TOKYO (Reuters) - Japanese prosecutors raided Olympus Corp <7733.T> units on Wednesday in connection with a huge accounting scandal that has threatened the existence of the 92-year-old maker of cameras and medical equipment, Japanese media reported.

A spokeswoman for t...

Analysis: Olympus ex-CEO looks to be losing boardroom bid

2011-12-20T03:00:18Z

TOKYO (Reuters) - Michael Woodford, the ousted boss of Japan's Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief exe...

Ex-Olympus boss says close to picking alternative board

2011-12-20T02:01:00Z

LONDON (Reuters) - Former Olympus Corp head Michael Woodford is close to releasing names of an alternative slate of directors for the board of the company, he told Reuters in an interview, as he fights to return at the helm of the company.

Woodford, who won a battle to force his former employer to...

Olympus aims to tap Sony, others for $1.3 billion in new capital

2011-12-19T23:30:13Z

(Reuters) - Olympus Corp is preparing to issue about $1.28 billion (100 billion yen) in new shares with Japanese high-tech stalwarts Sony and Fujifilm seen as likely buyers as it tries to bolster its depleted finances, the TOKYO (Reuters) - Japan signaled plans to strengthen disclosure rules on mergers and acquisitions after a $1.7 billion accounting fraud at Olympus Corp, one of the nation's worst corporate scandals, which involved a series of shady d...

Japan aims to bolster M&A disclosure after Olympus

2011-12-16T02:00:45Z

TOKYO (Reuters) - Japan signaled plans to strengthen disclosure rules on mergers and acquisitions after a $1.7 billion accounting fraud at Olympus Corp, one of the nation's worst corporate scandals, which involved a series of shady d...

Olympus ex-CEO attacks Japan investors as comeback bid struggles

2011-12-15T15:00:10Z

TOKYO (Reuters) - The whistleblower in Japan's Olympus Corp scandal, ex-CEO Michael Woodford, blasted Japanese shareholders on Thursday for failing to stand up for him, amid signs that domestic and foreign investors are ...

Olympus shares plunge 21% on dilution fears

2011-12-15T08:30:24Z

Shares in scandal-hit Olympus nosedived 21 percent Thursday amid fears of a possible dilution if the company announces a new issue to raise much-needed fresh capital.

The stock fell 20.77 percent to 1,041 yen as investors ran for cover following Wednesday's delayed submission of second quarter earnings and the correction of five years worth of balance sheets.

Current earnings, revealing a 32.3 billion yen ($414 million) first half...

Olympus open to rehiring ex-CEO Woodford but skepticism reigns

2011-12-14T23:00:18Z

TOKYO (Reuters) - Japan's disgraced Olympus Corp said Thursday it would consider reinstating its sacked CEO, Michael Woodford, but the gesture failed to era...

Shares in Japan's disgraced Olympus dive on balance

2011-12-14T18:30:10Z

TOKYO (Reuters) - Shares in Japan's scandal-ridden Olympus Corp slumped almost 20 percent on Thursday after it corrected its accounts to reveal a dramatically weakened balance sheet, stoking talk that it might need to merge, sell ass...

Olympus reveals $1 billion balance sheet hit

2011-12-14T07:30:40Z

TOKYO (Reuters) - Japan's disgraced Olympus Corp ironed out its crooked accounts on Wednesday after a 13-year fraud, with a $1.1 billion dent in its balance sheet triggering speculation it will need to merge, sell assets...

Olympus reveals $1 billion balance sheet hit, stirs merger

2011-12-14T07:30:29Z

Woodford says would recapitalize Olympus within few months

2011-12-14T06:00:27Z

TOKYO (Reuters) - Olympus Corp's ousted CEO Michael Woodford said on Wednesday he would recapitalize the camera and medical equipment maker within a few months if he returned and would favor investment by privat...

Olympus reveals $1 billion balance sheet hit, stirs merger talk

2011-12-14T04:00:20Z

Olympus fixes crooked accounts; takeover talk resurfaces

2011-12-14T01:00:30Z

TOKYO (Reuters) - Japan's disgraced Olympus Corp ironed out its crooked accounts on Wednesday, unwinding a 13-year fraud to reveal a $655 million dent in its balance sheet and igniting speculation it would need to merge ...

Olympus fixes crooked accounts; takeover talk

2011-12-14T00:30:10Z

Olympus expected to release earnings on deadline

2011-12-13T19:30:29Z

Scandal-hit Olympus was expected to release its overdue earnings statement on Wednesday, as the camera and medical equipment maker raced to meet a deadline or risk being axed from Tokyo's stock exchange.

The company, which has been embroiled in a loss cover-up scandal, has said it was aiming to meet the deadline amid reports that its auditors were nervous about signing off on the embattled company's accounts.<...

Former Olympus CEO returning to Japan: report

2011-12-13T05:30:40Z

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 ...

Olympus ex-CEO to meet MPs, push for Japan reform: source

2011-12-12T10:00:19Z

TOKYO (Reuters) - The whistleblower in a $1.7 billion accounting scandal at Japan's Olympus Corp, ex-CEO Michael Woodford, plans to meet ruling-party lawmakers in Tokyo this week as he lobbies for reforms to Japanese boa...

Olympus ex-CEO to meet MPs, push for Japan reform: souce

2011-12-12T02:00:12Z

Olympus ex-CEO Woodford to meet MPs in push for Japan reform

2011-12-12T00:30:06Z

TOKYO (Reuters) - The whistleblower in Japan's Olympus Corp scandal, former chief executive Michael Woodford, plans to meet ruling-party lawmakers in Tokyo this week as ...

Olympus ex-CEO Woodford to meet MPs in push for Japan

2011-12-12T00:00:10Z

TOKYO (Reuters) - The whistleblower in Japan's Olympus Corp scandal, former chief executive Michael Woodford, plans to meet ruling-party lawmakers in Tokyo ...

Olympus preparing to file earnings by Wednesday

2011-12-11T21:00:12Z

TOKYO (Reuters) - Olympus said it was preparing to file its July-September earnings by Wednesday, a necessary step for the disgraced 92-year-old firm to remain listed.

The Japanese maker of cameras and endoscopes also said it would hold a briefing on Thursday to explain the results, after admitting to a $...

Olympus says preparing to file earnings by December 14

2011-12-11T19:00:07Z

TOKYO (Reuters) - Olympus said on Monday it was preparing to file its July-September earnings by December 14, a necessary step for the disgraced 92-year-old firm to remain listed.

The company also said it would hold a briefing on December 15 to explain the results after admitting to a $1.7 billion scheme ...

Olympus ousted CEO to visit Japan, seeks new board

2011-12-10T00:30:04Z

TOKYO (Reuters) - Olympus Corp's <7733.T> ousted CEO, Michael Woodford, will travel to Japan on Tuesday to meet potential candidates for a new team in his battle to take back management control of the camera maker after ...

Olympus ousted CEO to visit Japan as he seeks to remove board

2011-12-09T18:00:04Z

TOKYO (Reuters) - Olympus Corp's <7733.T> ousted CEO, Michael Woodford, will travel to Japan on Tuesday seeking support from shareholders and investors for a new management to lead the firm after a $1.7 billion accountin...

E&Y sets up external panel to probe Olympus audit

2011-12-08T05:00:17Z

TOKYO (Reuters) - The Japanese arm of Ernst & Young said on Thursday it would set up an external committee to investigate its audit of Olympus Corp.

The move follows a separate probe into an accounting scandal at the camera maker that raised issues with its audit a...

Olympus board signals it will quit

2011-12-07T03:00:09Z

TOKYO (Reuters) - Olympus Corp's board signaled plans to quit over a $1.7 billion accounting fraud, but will likely pick a team of potential successors, triggering a battle for control of the Japanese firm with the former CEO who blew the whistle on the scandal.

At a n...

Olympus board signals may quit by late-February

2011-12-06T23:30:13Z

TOKYO (Reuters) - The entire board of Japan's Olympus Corp signaled its plans to quit, maybe as early as February, over a $1.7 billion accounting fraud, and set up an outside committee to advise whether to sue those resp...

Olympus ex-presidents approved loss cover-up: panel

2011-12-06T08:30:11Z

The committee probing a massive cover-up of losses at Japan's Olympus said Tuesday two former presidents approved the long-running scheme and that core management at the firm had been "rotten".

The panel of lawyers and an accountant chosen by Olympus said Tsuyoshi Kikukawa and his predecessor Masatoshi Kishimoto had backed the plan to hide 134.9 billion yen ($1.73 billi...

Legal action urged in damning Olympus report

2011-12-06T04:00:39Z

TOKYO (Reuters) - An independent panel issued a damning report on a $1.7 billion accounting scandal at Japan's disgraced Olympus Corp on Tuesday, urging legal action against the executives responsible for the cover-up an...

Legal action urged in damning report on Olympus

2011-12-06T00:00:20Z

TOKYO (Reuters) - An independent panel issued a damning report into the $1.7 billion accounting scandal at Japan's Olympus Corp, urging legal action against executives behind the cover-up and the replacement of others wh...

Panel urges legal action in damning report on Japan's Olympus

2011-12-06T00:00:17Z

Panel finds no evidence of organised crime in Olympus scandal

2011-12-05T22:00:10Z

TOKYO (Reuters) - An investigative panel has found no link to organised crime in the accounting scandal at Japan's Olympus Corp and has blamed two former executives for cooking its books over the past 13 years, Jiji news...

Olympus panel 'to blame presidents over scam'

2011-12-05T20:30:15Z

A committee probing a massive cover up of losses at Japan's Olympus is to unveil its report Tuesday, and is expected to blame two former company presidents for approving the scheme, reports said.

The Nikkei business daily said the committee -- comprising lawyers and an accountant chosen by Olympus -- will name Tsuyoshi Kiku...

Olympus shares surge as moment of truth approaches

2011-12-05T19:00:08Z

TOKYO (Reuters) - Shares in Japan's disgraced Olympus Corp surged on Tuesday as investors bet that a probe into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being de...

Japan's Olympus shares surge as moment of truth approaches

2011-12-05T18:30:18Z

TOKYO (Reuters) - Shares in Japan's disgraced Olympus Corp surged Tuesday as investors bet that a probe into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being delisted.

An...

Japan's Olympus shares surge as moment of truth

2011-12-05T18:30:12Z

An...

Japan's Olympus hid up to $1.7 billion

2011-12-05T05:30:38Z

TOKYO (Reuters) - An investigative panel has found Japan's disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but is likely to say there is no evidence of involvement by organized crime in the cover-up, a so...

Superman's Hometown Labor Strife

2010-12-20T14:01:54Z

In this Dec. 9, 2010, photo United Steelworkers Local 7-669 union members brave the cold as they take their shift picketing outside a gate of the Honeywell plant in Metropolis, Ill. The workers are among roughly 230 union employees that Honeywell locked out in June fr...

Japan Military

2010-12-17T03:31:53Z

FILE - In this Aug. 27, 2009, file photo, Japanese Ground Self-Defense Force's anti-land mine missile is launched during an annual live-firing exercise at the Higashi Fuji training range at Gotemba at the base of Mount Fuji. Japan needs to focus on the rise of China and not the Cold War thr...

Holiday Tech Gifts Cameras

2010-12-10T11:32:41Z

In this product Image provided by the Eastman Kodak Co., the Kodak Easyshare C195 digital camera is shown. (AP Photo/Eastman Kodak Co.)

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Holiday Tech Gifts Game Consoles

2010-12-07T10:33:09Z

FILE - In this Sept. 14, 2010 file photo, the Sony PlayStation Move, a new wireless controller for the PlayStation 3 video game console, is shown. (AP Photo/John Bazemore, file)

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Holiday Tech Gifts Internet TV

2010-12-03T11:44:59Z

FILE - In this Aug. 19, 2009 file photo, a Sony PlayStation 3 is on display at a news conference in Tokyo, Japan. (AP Photo/Itsuo Inouye, file)

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Police raid Olympus HQ in cover-up scandal

Prosecutors raid Olympus over accounting scandal

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Ex-Olympus boss says close to picking alternative board

Olympus aims to tap Sony, others for $1.3 billion in new capital

Japan aims to bolster M&A disclosure after Olympus

Olympus ex-CEO attacks Japan investors as comeback bid struggles

Olympus shares plunge 21% on dilution fears

Olympus open to rehiring ex-CEO Woodford but skepticism reigns

Shares in Japan's disgraced Olympus dive on balance

Olympus reveals $1 billion balance sheet hit

Olympus reveals $1 billion balance sheet hit, stirs merger

Woodford says would recapitalize Olympus within few months

Olympus reveals $1 billion balance sheet hit, stirs merger talk

Olympus fixes crooked accounts; takeover talk resurfaces

Olympus fixes crooked accounts; takeover talk

Olympus expected to release earnings on deadline

Former Olympus CEO returning to Japan: report

Olympus ex-CEO to meet MPs, push for Japan reform: source

Olympus ex-CEO to meet MPs, push for Japan reform: souce

Olympus ex-CEO Woodford to meet MPs in push for Japan reform

Olympus ex-CEO Woodford to meet MPs in push for Japan

Olympus preparing to file earnings by Wednesday

Olympus says preparing to file earnings by December 14

Olympus ousted CEO to visit Japan, seeks new board

Olympus ousted CEO to visit Japan as he seeks to remove board

E&Y sets up external panel to probe Olympus audit

Olympus board signals it will quit

Olympus board signals may quit by late-February

Olympus ex-presidents approved loss cover-up: panel

Legal action urged in damning Olympus report

Legal action urged in damning report on Olympus

Panel urges legal action in damning report on Japan's Olympus

Panel finds no evidence of organised crime in Olympus scandal

Olympus panel 'to blame presidents over scam'

Olympus shares surge as moment of truth approaches

Japan's Olympus shares surge as moment of truth approaches

Japan's Olympus shares surge as moment of truth

Japan's Olympus hid up to $1.7 billion

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