http://www.bbc.co.uk/news/business-15632320
So apparently the turn-around quite possibly wasn't and they bled much more red ink than was listed. Let's hope they scrape through this and stay on the Tokyo Exchange. My guess is that we'll see some criminal charges come out of this. The last CEO, who was ousted for questioning the practice is looking better IMO. I'd be surprised if their board survives. Moral can't be good at this point, and I wonder how R&D capitalization will be affected. Still, the biggest thing they need is modern sensors, and that's Panasonic's bailiwick, so they should remain competitive if they manage to stay in business once Panny revs the sensor line.
Paul
Olympus has seen its market value plummet by more than half since the scandal broke in October.
Analysts said the latest disclosure has raised questions about the very future of the company.
"This is very serious. Olympus admitted it has made false entries to cover its losses for 20 years. All people involved in this over 20 years would be responsible," said Ryosuke Okazaki of ITC Investment Partners.
"There is a serious danger that Olympus shares will be delisted. The future of the company is extremely dark," he warned.
So apparently the turn-around quite possibly wasn't and they bled much more red ink than was listed. Let's hope they scrape through this and stay on the Tokyo Exchange. My guess is that we'll see some criminal charges come out of this. The last CEO, who was ousted for questioning the practice is looking better IMO. I'd be surprised if their board survives. Moral can't be good at this point, and I wonder how R&D capitalization will be affected. Still, the biggest thing they need is modern sensors, and that's Panasonic's bailiwick, so they should remain competitive if they manage to stay in business once Panny revs the sensor line.
Paul