Panasonic to provide Olympus with up to 50 bln yen in capital-Kyodo
TOKYO, June 6
TOKYO, June 6 (Reuters) - Panasonic Corp is making final arrangements to provide up to 50 billion yen ($635 million) in capital to Olympus Corp in a move that will make Panasonic the top shareholder in the company, which has been hit by a massive accounting scandal, Kyodo news agency reported.
Panasonic, a leading electronics maker struggling with sluggish TV sales, aims to secure a new source of revenue by forming an alliance with Olympus in its mainline operation of medical devices, Kyodo said, citing unidentified sources familiar with the move.
- Search planes scour sea for missing Malaysian jetliner |
- Timeline: Malaysia Airlines flight to Beijing missing in Asia
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Mexico kills drug kingpin reported dead years ago: official