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Olympus says expects creditors to continue loans
August 9, 2012 / 6:40 AM / in 5 years

Olympus says expects creditors to continue loans

A man sits near a logo of Japan's Olympus Corp at the company headquarters in Tokyo June 19, 2012. REUTERS/Yuriko Nakao

TOKYO (Reuters) - Olympus Corp (7733.T) said on Thursday it expects creditors to continue providing loans despite the fact that misreported financial statements in the past meant the Japanese medical equipment maker had violated covenants on some loans.

Olympus, which was rocked by a massive accounting scandal that came to light last year, revised its securities report for the financial year ended March, saying that through misreporting of financial statements, it had violated covenants for long-term debts worth 320 billion yen ($4.1 billion).

“Currently, we are in talks with our creditors to continue providing these loans and at this stage, we believe that they will continue to provide support,” the company said in the revised statement.

($1 = 78.3600 Japanese yen)

Reporting by Yoko Kubota; Editing by Chang-Ran Kim

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