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

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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Camera Rumours