Printed from http://www.electronista.com

Olympus may sell camera group to escape scandal

updated 10:35 pm EST, Tue November 29, 2011

Company considering significant restructuring

Olympus is reportedly considering a number of significant restructuring strategies, which may bring the company to find a buyer for its consumer camera division. The Japanese company is currently reviewing its business structure in an attempt to survive an accounting scandal that is believed to involve as much as $4.9 billion in hidden losses.

Several teams are said to be investigating possible methods to keep the company afloat as its books are corrected. The medical endoscope division represents the company's core business, bringing profit while the camera group operates at a loss.

Olympus recently admitted to running a cover-up scheme to conceal losses through advisory fees and acquisitions dating back to the early 1990s. The scandal is believed to involve Japan's yakuza, a factor that is said to increase the possibility of delisting from the Tokyo Stock Exchange.

Camera companies are said to be closely monitoring the situation, however Olympus has yet to finalize plans to divest assets. [via Reuters]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News