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...

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 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

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...

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...

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...

Japan's Olympus hid up to $1.7 billion, no proof of yakuza

2011-12-05T04:00:14Z

Analysis: Japan's silent majority may find its voice over

2011-12-04T15:00:33Z

TOKYO (Reuters) - Some big Japanese shareholders in disgraced firm Olympus Corp 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.

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Analysis: Japan's silent majority may find voice over Olympus

2011-12-02T02:00:44Z

TOKYO (Reuters) - Some big Japanese shareholders in disgraced firm Olympus Corp <7733.T> 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 appro...

Olympus whistleblower ramps up coup campaign

2011-12-01T10:30:27Z

Whistleblower Michael Woodford on Thursday ramped up his campaign to oust the board of Japan's scandal-wracked Olympus and return to his old job under the leadership of a new slate of directors.

The Briton resigned his own directorship in a move that freed him to talk to shareholders about re-populating the boardroom and installing ...

Olympus ex-CEO campaigns to reclaim top job

2011-12-01T00:00:11Z

NEW YORK/TOKYO (Reuters) - The former chief executive of disgraced Olympus Corp, Michael Woodford, launched a campaign on Thursday to oust the board of directors, reclaim his old job and bring in his own team to save the Japanese firm from a big accounting scand...

Olympus ex-CEO Woodford campaigns to oust board

2011-11-30T20:00:18Z

NEW YORK/TOKYO (Reuters) - The former chief executive of Japan's disgraced Olympus Corp, Michael Woodford, launched a campaign on Thursday to oust the board...

Olympus whistleblower, ex-chief quits board

2011-11-30T19:30:30Z

Japan's scandal-hit Olympus said Thursday former chief executive Michael Woodford has quit the company's board, but reports said he was working on an "alternative plan" for managing the company.

"We announce that the company received a resignation letter from board director Michael Woodford today and that he resigned as company boar...

Olympus whistleblower Woodford quits board

2011-11-30T18:30:32Z

NEW YORK/TOKYO (Reuters) - The whistleblower in the accounting scandal engulfing Japan's Olympus Corp, ex-CEO Michael Woodford, quit the firm's board of dir...

Olympus ex-CEO Woodford quits board in bid to force overhaul

2011-11-30T17:00:12Z

TOKYO (Reuters) - The whistleblower in the accounting scandal engulfing Japan's Olympus Corp, ex-CEO Michael Woodford, has quit the firm's board of director...

Financial strain, trauma for Olympus ex-CEO

2011-11-30T16:00:08Z

NEW YORK (Reuters) - A six-week-long fight with Olympus Corp in one of Japan's biggest corporate scandals ever is taking its toll on the whistleblower -- former CEO Michael Woodford.

Woodford, 51, who said he had been getting only a few hours ...

South Korea Koreas Clash

2011-01-05T01:31:08Z

South Korean Foreign Minister Kim Sung-hwan, right, shakes hands with U.S. special envoy on North Korea, Stephen Bosworth before their meeting at the Foreign Ministry in Seoul Wednesday, Jan. 5, 2011. (AP Photo/Jung Yeon-je, Pool)

South Korea Koreas Nuclear

2011-01-05T01:31:07Z

U.S. special envoy on North Korea, Stephen Bosworth, left, and South Korea's chief nuclear negotiator Wi Sung-lac attend talks at the latter's office in Seoul, Wednesday, Jan...

South Korea US Koreas Clash

2011-01-04T02:30:23Z

Stephen Bosworth, US special representative for North Korea policy, talks to reporters upon his arrival at Incheon international airport, west of Seoul, Tuesday, Jan. 4, 2011. Bosworth arrived in Seoul for talks on North Korea's nuclear...

APTOPIX South Korea Koreas Clash

2011-01-03T07:31:38Z

South Korean Army's 155 mm howitzers fire during a military drill near the demilitarized zone, which has separated the two Koreas since the Korean War, in Chulwon, north of Seoul, South Korea, Monday, Jan. 3, 2011. South Korea's president vowed Monday not to let North Korea "cove...

North Korea Koreas Clash

2011-01-03T04:31:29Z

Ctizens attend a rally in support of North Korea's "joint new year editorial" in the city's central Kim Il Sung Square, in Pyongyang, North Korea Monday, Jan. 3, 2011. In the North Korean capital, tens of thousands gathered Monday for the annual New Year rally to display loyalty to leader K...

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