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How much longer for Olympus?


oldblokeh e2
3 925 United Kingdom
26 Oct 2011 6:58PM
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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27 Oct 2011 8:46AM
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 e2
13 16.1k 6 England
27 Oct 2011 4:37PM
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 e2
7 4.1k 99 England
27 Oct 2011 5:20PM
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 e2
13 16.1k 6 England
27 Oct 2011 5:31PM
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 e2
3 925 United Kingdom
27 Oct 2011 5:38PM
mikehit e2
5 7.1k 11 United Kingdom
27 Oct 2011 6:15PM
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 e2
7 4.1k 99 England
27 Oct 2011 6:36PM

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 e2
10 15.5k 2 Canada
17 Apr 2012 10:48PM
Any time we mention camera companies in this forum, it's Globe shaking. Wink
Carabosse e2
11 39.7k 269 England
18 Apr 2012 12:14AM
Nice to see they are "newly reborn". Wink
StrayCat e2
10 15.5k 2 Canada
18 Apr 2012 2:53AM
They've seen the light as we say.Wink
18 Apr 2012 1:51PM

Quote:Nice to see they are "newly reborn"


Arriving on a conch shell, perhaps, CB? Wink

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