Tuesday, November 08, 2011

Olympus is on Verge of Bankruptcy!?

See what EOS HD has reported today, I'm afraid that Olympus is really in deep trouble water!

Some key quotes:-

"Shares in Olympus fell 70% on the news a few hours ago and could be de-listed from the Tokyo stock exchange. “Under Japanese exchange rules, companies found to have falsified earnings reports could be removed from trading.”"

(Credit: Yahoo Japan)

"The precedent set by Japanese firms that have done the same thing – dubbed ‘tobashi’ in Japan – is not good. Namely, criminal conviction and bankruptcy followed suit."

"With Olympus having lost 70% of its value and facing a massive ethical backlash, as well as huge damage to its once respected brand there are dark times ahead for the company especially the camera division which is already loss making even by Olympus’s accounting practices! It is speculated the camera company could be spun off but in my view there are a lack of possible candidates."

Too bad.. I bet before October, nobody knew that the development of this "gate" case would be running into now this seemly to be a dead end! (Sigh! My first DC was an Olympus!)

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