Olympus first made a splash in the photography world way back in 1936, but they now find themselves caught up in a corporate scandal, one that is possibly the largest Japan has ever seen. The company is reviewing its business structure, and there is lots of speculation that it just might have to sell its many assets just to keep its head above water, according to Reuters. The company is currently under police investigation and there is a great chance they could lose their Tokyo stock market listing.
The company’s main concern at this point is to protect their endoscope business, even though they are best known for their cameras. This is because they basically hold a worldwide endoscope monopoly, and they don’t plan on relinquishing that role. That business is worth $2.6 billion to them, while their camera business consistently runs at a loss.
One thing is certain: this is going to drastically change the way Olympus operates, and is likely to introduce changes to the way government correspondence is handled in Japan. Regulation and over sights may be mandatory to be held by an outside firm from now on. Other camera manufacturers are paying close attention to this saga, with hopes of profiting off of their mistakes and avoiding similar mistakes in the future.