Private equity firm TPG Capital is willing to invest about $1 billion in Japan's Olympus Corp in a joint deal with Sony Corp or another suitor circling the scandal-hit firm, a person familiar with TPG's thinking said.
Samsung Electronics ruled out making a bid for the healthcare business of Japan's troubled Olympus Corp on Friday, though a source close to the South Korean firm said it remained open to some form of non-equity partnership.
Japan's disgraced Olympus Corp is suing 19 current and former executives, including its current president, for up to almost $50 million in compensation, as it struggles to recover from one of the nation's worst accounting scandals.
Japan's Olympus Corp has sued its current president and three ex-directors for several million dollars in compensation, sources told Reuters on Monday, as the company seeks to draw a line under one of the nation's worst accounting scandals.
Japan's Olympus Corp has sued its current president and three ex-directors for several million dollars in compensation, sources told Reuters on Monday, as the company seeks to draw a line under one of the nation's worst accounting scandals.
Japanese prosecutors raided offices of Olympus Corp and the home of a former executive Wednesday in a probe into a $1.7 billion accounting scandal that has threatened the survival of the once-proud camera and medical equipment maker.
Japanese prosecutors raided Olympus Corp 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.
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 executive officer, however, appears doomed.
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 possible buyers, as it tries to bolster its depleted finances, the Nikkei business daily reported Tuesday.
Police, prosecutors, and the Japanese securities watchdog may launch a raid on the offices of the disgraced Olympus Corp. this week on suspicion the company falsified financial accounts, Kyodo News has reported, citing investigative sources.
Japan has 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 deals.
The whistleblower in Japan's Olympus Corp scandal, ex-CEO Michael Woodford, blasted Japanese shareholders Thursday for failing to stand up for him, amid signs that domestic and foreign investors are split over his campaign to be reinstated.
Japan's disgraced Olympus Corp said Thursday it would consider reinstating its sacked CEO, Michael Woodford, but the gesture failed to erase doubts that it would ever rehire the foreigner who blew the whistle on its crooked accounts.
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 or raise capital to repair its finances.
Japanese camera maker Olympus Corp beat the deadline for an automatic delisting after it reposted five years of earnings, which showed a $1.1 billion loss and ignited merger speculation.
Japan's disgraced Olympus Corp ironed out its crooked accounts on Wednesday, unwinding a 13-year fraud to reveal a $1.1 billion dent in its balance sheet and igniting speculation it would need to merge or sell assets to repair its finances.
Japan's disgraced Olympus Corp ironed out its crooked accounts Wednesday, unwinding a 13-year fraud to reveal a $655 million dent in its balance sheet and igniting speculation that it would need to merge or sell assets to repair its finances.
Japan's scandal-ridden Olympus Corp faces one of its biggest challenges to survive as an independent company on Wednesday, when it must meet a deadline to file its second-quarter results or be delisted from the Tokyo stock exchange.
Olympus Corp's ousted CEO, Michael Woodford, will on Thursday meet a panel of lawmakers from Japan's ruling Democratic Party looking at ways to tighten corporate governance in the wake of the accounting scandal at the endoscope maker, a source familiar with the plan told Reuters.
Olympus said it was preparing to file its July-September earnings by Wednesday, a necessary step for the disgraced 92-year-old firm to remain listed.
Olympus Corp's board signaled plans to quit over a $1.7 billion accounting fraud, but will likely pick a team of potential successors, triggering a battle for control of the Japanese firm with the former CEO who blew the whistle on the scandal.
An investigative panel has found Japan's disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but stops short of recommending criminal charges against executives involved in the cover-up, a source said on Monday.
