The end of Olympus?

springtide

Distinguished Member
Been following this story for a while, but it's not looking good for Olympus.....

Source:
Olympus' Tokyo offices raided over accounting scandal -- Engadget
Olympus Offices Raided in Tokyo - WSJ.com

Olympus' Tokyo offices raided over accounting scandal
Eke. A nearly-century old outfit is currently giving up office space to Japanese prosecutors, who today moved in on Olympus' Tokyo facilities in a raid surrounding an ongoing accounting investigation. According to reports from The Wall Street Journal and Reuters, the scandal involves many billions of dollars -- "irregularities" that have raised serious concerns about the outfit's handling of funds. It's bruited that the company has been running a scheme to conceal over $1.5 billion in investment losses, and we're told that the raid should pass right on through Olympus' headquarters and into the "homes of executives involved in the cover-up." All of this follows an admission last month that the firm had used "inflated payments made in acquisitions in recent years," and while it remains unclear what all of this means for its future, there's no doubt a few dark months are ahead as things sort themselves out. So much for looking pretty for the camera, eh?

More info:
BBC News - Olympus raids: Seeking evidence of a 'massive scandal'
BBC News - Prosecutors raid the HQ of Olympus in earnings probe
 

tapzilla2k

Distinguished Member
I guess Sony, Canon and Nikon will fight over the what's left of Olympus if the company goes
down the pan. Sad to see such an iconic company being ruined by a few dodgy people.
 

Jammyb

Novice Member
It's a shame because the guys designing their cameras and lenses are doing a really good job. I'm hoping they're bought by someone decent and it isn't gutted.
 

springtide

Distinguished Member
It's a shame because the guys designing their cameras and lenses are doing a really good job. I'm hoping they're bought by someone decent and it isn't gutted.

I agree... with what resources they had available to them, they have been designing very decent cameras.

If it does get sold off or broken up, I would guess it would need to be one of the m43 crowd... Panasonic maybe?
 

icemanonline

Distinguished Member
Would be a shame to see them sink after over 100 years I believe ..................but I would imagine that if Olympus go under they may re-appear as Olympus version 2 as a new name or such like after the be-head a few execs and all the other theeeeeving Bleeps that have lied in order to make millions or tell lies or whatever they are up to. Hope not though.

On the bright side the cost of surplus lenses and extra's may sell for less til they dry up..............so I would maybe grab a 40-150 and few bits and bobs before they sink. :eek: Why not!! Got to find the positive in the negative :laugh:



icemanonline
 

Jammyb

Novice Member
If it does get sold off or broken up, I would guess it would need to be one of the m43 crowd... Panasonic maybe?

Rumours at the minute are:
Sony and Fujifilm seen as possible buyers, the Nikkei business daily reported.” Reuters also says that Panasonic could join the “share shopping” too. This really sounds like a very vague rumor. Before Reuters and Bloomberg reported that also Samsung and Hoya

I'm rooting for fuji

Samsung and Sony's products are good but soulless if that makes sense.
 

keefysher

Active Member
Another example of Harvard Business School's past 30 years of trying to disguise common theft as leveraging (borrowing against future unknown and incalculable value of assets), no doubt. :devil::devil:

This will probably send shock waves through Japanese businesses as theft is against their culture.

Shall we open a book on the next 'outing'?
 

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