As you may have heard, Olympus has been recently hit with a scandal following the revelation of ex-CEO Michael Woodford covering up losses amounting to $US1.7 billion and was threatened to be delisted from the Tokyo Stock Exchange (TSE).
It seems Olympus has survived half of its dilemma as the TSE allowed the company to stay, although they had to pay a fine of 10 million yen or about $129,800 and stays under TSE’s watchful eyes in the next three years. Although, the company has still yet to face Japanese authorities and the FBI.
On related news, it seems Sony and Fujifilm are the leading companies in acquiring an equity stake in Olympus Corp, according to sources close to the situation.
“Sony, which has relatively little experience in the healthcare sector, supplies image sensors to Olympus and is considered keen to tap into its lucrative business in diagnostic endoscopes, where it holds a 70 percent global market share.”
Shares from Olympus’ soared by 8.2 percent following the TSE annoucement, but stock is still 50 percent down.
The Japanese company is also rumored to announce the much anticipated Olympus OM-D in February.