Printed from http://www.electronista.com

Panasonic denies reports it is investing $632m into Olympus

updated 10:09 am EDT, Fri June 8, 2012

Panasonic isn't investing in Olympus: President

Panasonic President Fumio Ohtsubo has gone on record to say that his company isn't planning on investing into ailing Olympus with some $632m in funds, denying a recent report. The original news came from the Kyodo news agency on Wednesday, citing unnamed sources. According to the latest Reuters story, Ohtsubo not only denied the report, but also confirmed there are no plans by Panasonic to invest into Olympus.

"I don't know where that information came from, not from us," the President stated during an interview at the Japan Electrical Manufacturers' Association. "There isn't any," he added, referring to any plans Panasonic has to invest in Olympus.

Olympus was reported to be searching for a partner to infuse them with cash as far back as January, with the most likely tie-ups to be Samsung or Panasonic, along with Sony, Fujifilm, and Terumo.

Panasonic was reportedly interested in expanding its healthcare business but it posted a record net loss recently and isn't likely to be in a position to invest this much money at this point.

Olympus is recovering from a financial scandal that involved the company hiding nearly $1.7 billion in profits.



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

Adesso Xtream S3B Bluetooth speaker

Finding a speaker purpose-built for a specific need is challenging. Even when a Bluetooth speaker can be paired with a mobile device, ...

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 ...

Sponsor

toggle

Most Commented

 
toggle

Popular News