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How much longer for Olympus?

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oldblokeh
oldblokeh  3794 forum posts United Kingdom
26 Oct 2011 - 6:58 PM

Latest news:

Quote: Bloomberg reports that Olympus Corporation Chairman and President Tsuyoshi Kikukawa resigned today after questions about the company's mergers and acquisitions have caused the company's value to plunge more than 50% in less than two weeks.


The questions began on October 14th when Olympus fired its previous president, Michael Woodford, after only six months on the job. Woodford is now in the United States to meet FBI investigators, according to Bloomberg.


Since being fired, Woodford has revealed that in the course of acquiring a British medical equipment company in 2008, when Kikukawa was previously President and Chairman, Olympus paid a US$687 advisory fee to two connected, now-defunct firms, based in New York and The Cayman Islands. The fee, worth 36% of the value of the transaction, was the largest mergers and acquisitions advisory fee ever paid, according to reports, and far above the customary 1% or so for M&A advisory services.

The issue is also under investigation in the US by the FBI, according to some reports.

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26 Oct 2011 - 6:58 PM

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kodachrome
27 Oct 2011 - 8:46 AM

From what I read in the financial times, the camera part of the company could get hived off and it looks like Panasonic might be interested, but they are saying nothing at the moment. They already share some technology that they jointly developed not to mention Olympus use Panny sensors.
Also, Olympus promised to honour all those Oly users and lens owners round the world with an affordable body [rumoured to be an E-50]. With all this latest scandal it could be on hold or even dropped, I hope not.
Pete

Paul Morgan
Paul Morgan e2 Member 1315202 forum postsPaul Morgan vcard England6 Constructive Critique Points
27 Oct 2011 - 4:37 PM

Jumping the gun a bit I think Smile


Quote: not to mention Olympus use Panny sensors

They now use there own or at least on some camera`s, a first for them.

Nick_w
Nick_w e2 Member 73851 forum postsNick_w vcard England99 Constructive Critique Points
27 Oct 2011 - 5:20 PM

They are in a very vulnerable position. As I mentioned earlier they will probably broke down in bits which is a real shame, particularly in the current economic climate they won't realise anywhere near theretrue value - if they can find a suitor(s) with a large enough credit line that is.

Paul Morgan
Paul Morgan e2 Member 1315202 forum postsPaul Morgan vcard England6 Constructive Critique Points
27 Oct 2011 - 5:31 PM

I think you need to look at the bigger picture, the problems at Olympus have highlighted issues concerning a hell of a lot of the overall businesses and business cultures in Japan, Olympus simply got caught out.

Shareholders are going to want to see a return, I can`t see how braking down a company is going to help.

oldblokeh
oldblokeh  3794 forum posts United Kingdom
27 Oct 2011 - 5:38 PM

The chairman has resigned: http://www.bbc.co.uk/news/business-15472836

mikehit
mikehit  56329 forum posts United Kingdom9 Constructive Critique Points
27 Oct 2011 - 6:15 PM

Get the numbers. Shares have plummeted 50%. Now they have 'surged' 25% - that is, recovered one quater of their loss. Hardly a shattering vote of confidence is it?

Nick_w
Nick_w e2 Member 73851 forum postsNick_w vcard England99 Constructive Critique Points
27 Oct 2011 - 6:36 PM


Quote: I think you need to look at the bigger picture, the problems at Olympus have highlighted issues concerning a hell of a lot of the overall businesses and business cultures in Japan, Olympus simply got caught out.

Shareholders are going to want to see a return, I can`t see how braking down a company is going to help.

I do look at the bigger picture Paul, every day with work - Granted the Japanese / South East Asian model is different from Europe / USA - there will be a lot of companies that are bought when they go into difficulty (at a bargain basement price), artificially inflatted by various fiscal means then brocken down - the sum of the parts are often worth more than the entirity. The likes of Hansen in the UK made his money in recessionary times by buying stricken companies then breaking them down.

The only time financial institutions will ride the storm is if they see a recovery in the short / medium term (a lot will depend on what share price they bought there stock at too).

StrayCat
StrayCat e2 Member 1014686 forum postsStrayCat vcard Canada2 Constructive Critique Points
17 Apr 2012 - 10:48 PM

Any time we mention camera companies in this forum, it's Globe shaking.Wink

Carabosse
Carabosse e2 Member 1139395 forum postsCarabosse vcard England269 Constructive Critique Points
18 Apr 2012 - 12:14 AM

Nice to see they are "newly reborn". Wink

StrayCat
StrayCat e2 Member 1014686 forum postsStrayCat vcard Canada2 Constructive Critique Points
18 Apr 2012 - 2:53 AM

They've seen the light as we say.Wink

Just Jas
Just Jas  1225751 forum posts England1 Constructive Critique Points
18 Apr 2012 - 1:51 PM


Quote: Nice to see they are "newly reborn"

Arriving on a conch shell, perhaps, CB? Wink

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