Former Olympus Corp CEO turned whistle-blower Michael Woodford touched down back in Tokyo on Wednesday for a meeting with investigators probing one of Japan's biggest accounting scandals and a showdown with the board that threw him out.
Former Olympus Corp CEO Michael Woodford said on Wednesday that Tokyo police were best able to get to the truth behind one of Japan's biggest accounting scandals, as speculation mounts of possible links to organised crime.
The combination will create the largest bourse in Asia -- with listed stocks having a value of $3.6-trillion.
Japan's Olympus Corp said on Monday that a third-party panel appointed by the company to look into an accounting scandal has, so far, found no evidence that funds from its M&A deals went to organised crime syndicates or that yakuza gangsters were involved.
Shares in Japan's Olympus Corp jumped more than 15 percent in early trade Monday on persistent speculation that the disgraced maker of cameras and endoscopes may avoid delisting despite the accounting scandal engulfing it.
As attention in the Olympus accounting scandal turns to whether funds used to cover up losses were funneled to criminal groups, scrutiny is set to increase on deals not yet in the spotlight, including an ill-fated $780 million investment in technology firm ITX.
Hisashi Mori, an ex-vice president of Japan's disgraced Olympus Corp., has been questioned by Japanese prosecutors on a voluntary basis as part of an investigation into an accounting scandal at the 92-year-old firm, media said Saturday.
A corporate governance advocacy group whose members include institutional investors that collectively manage assets of more than $10 trillion urged Tokyo's stock exchange on Friday not to delist disgraced Olympus Corp .
The former CEO of Olympus Corp, whose suspicions over dubious accounting triggered a scandal at the camera and medical equipment maker, will return to Japan next week to meet with police and authorities investigating the case.
Japan's disgraced Olympus Corp is preparing to take legal action, including possible criminal complaints, against any executives found responsible for the accounting scandal engulfing the firm, according to an internal staff email.
Shares in Japan's disgraced Olympus Corp jumped on Wednesday on speculation that it can escape delisting over an accounting scandal and that the brunt of any punishment will be borne by a few executives rather than the firm itself.
Olympus Corp's creditors are not expected to demand changes in loan terms or take other abrupt steps and risk hurting their own interests when they meet company executives on Wednesday to grill them about the firm's huge accounting scandal, sources and analysts said.
Shares in Olympus Corp rose by the maximum allowed on Monday on signs the scandal-hit maker of cameras and endoscopes may escape having its shares de-listed.
Tokyo's stock exchange warned scandal-hit Olympus Corp on Thursday it will be delisted after 62 years as a publicly traded company if it fails to report earnings by December 14, another blow to the Japanese camera-maker's chances of survival.
Japan's scandal-hit Olympus Corp is likely to miss a Monday deadline for reporting its first-half earnings, sources with knowledge of the matter said, a failure that would bring the 92-year-old firm a step closer to delisting.
Losses on securities investments at the core of a scandal rocking Japan's Olympus Corp may have once exceeded $1 billion, the Nikkei newspaper said on Wednesday, as the firm's share price plunged due to doubts about its future.
Japan's Olympus admitted on Tuesday it hid losses on securities investments dating back to the 1980s, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt.
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.
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.
Japan's Olympus Corp said it will not announce its quarterly earnings on Nov. 8 as expected because it needs more time after appointing an external panel to look into past acquisitions, sparking a fresh plunge in the firm's shares.
Olympus Corp risks possible lawsuits unless a planned probe of acquisitions at the heart of a scandal engulfing the endoscope maker is truly independent, the head of the Tokyo Stock Exchange warned Friday.
Olympus Corp head Tsuyoshi Kikukawa resigned on Wednesday after a scandal over hefty advisory fees wiped out half of the 92-year-old firm's market value while his successor stuck with the company's line that it had done nothing wrong.
