Key Developments: Olympus Corp (7733.T)

7733.T on Tokyo Stock Exchange

31 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Olympus Corp launches new Hemostasis Clip with Advanced Control for GI Endoscopy
Monday, 8 Sep 2014 09:30am EDT 

Olympus Corp:Says commercial availability of its 510(k) cleared QuickClip Pro hemostasis clip designed for bleed control and defect closure during GI endoscopy procedures.Unlike prior generation clip fixing devices, QuickClip Pro combines both superior rotational control to ensure precise placement along with the addition of open and close capabilities for easy repositioning.Importance of rotation ability is due to the fact that clips often do not come out of the scope in the right orientation, making it challenging to manipulate the clip to the correct angle that would successfully stop a bleed or close a defect.  Full Article

R&I affirms Olympus Corp's rating at "BBB+" and announces stable outlook
Monday, 25 Aug 2014 02:04am EDT 

Olympus Corp:Rating and Investment Information, Inc. (R&I) affirmed the company's rating at "BBB+".Rating outlook stable.  Full Article

Olympus Corp launches new, minimally invasive innovation for capsule endoscopy procedures
Monday, 5 May 2014 08:31am EDT 

Olympus Corp:Launches commercial availability of its 510(k) cleared, next-generation ENDOCAPSULE 10 System for small bowel capsule endoscopy procedures.  Full Article

Olympus to dissolve Olympus Biotech International
Thursday, 17 Apr 2014 03:30am EDT 

Olympus Corp:To dissolve a wholly owned subsidiary Olympus Biotech International Ltd. in Ireland, which has been engaged in sale of biological material products, and complete liquidation in 2017.  Full Article

Olympus Corp to withdraw from biologics business and lowers full-year consolidated net profit outlook for FY 2014
Friday, 28 Feb 2014 02:00am EST 

Olympus Corp:To withdraw from biologics business and dissolve a wholly owned sub-subsidiary Olympus Biotech Corporation, which will complete liquidation in 2017.Sees extraordinary loss of about 15 bln yen to 19 bln yen, for withdrawal from biologics business, for fiscal year ending March 31, 2014.Full-year consolidated outlook for revenue of 720,000 mln yen, for fiscal year ending March 31, 2014.Full-year operating profit outlook of 72,500 mln yen.Full-year ordinary profit outlook of 50,000 mln yen.Full-year net profit (loss) outlook of (4,000)~0 mln yen lowered from 13,000 mln yen.Full-year earnings (loss) per share outlook of (12.05)~0.00 yen lowered from 37.98 yen.Net profit outlook lowered due to withdrawal from biologics business.FY 2014 revenue of 718,880 mln yen, operating profit of 74,670 mln yen and net profit of 15,740 mln yen - Thomson Reuters I/B/E/S.  Full Article

Olympus Corp Announces Settlement of Lawsuit Filed by TERUMO CORPORATION
Sunday, 17 Nov 2013 10:00pm EST 

Olympus Corp announced that it has reached a settlement on the lawsuit, which TERUMO CORPORATION filed against Olympus to the Tokyo District Court, demanding damages of JPY 6,611,669,900 and interest for 5% per annual from August 22, 2005. As the settlement, Olympus will pay JPY 6,000 million to TERUMO CORPORATION.  Full Article

Olympus Corp Amends Consolidated Full-year Forecast for FY 2014; Expects Extraordinary Loss for FY 2014
Friday, 8 Nov 2013 01:30am EST 

Olympus Corp announced that it has raised the consolidated full-year forecast for revenue from JPY 700,000 million to JPY 720,000 million, operating profit from JPY 71,000 million to JPY 72,500 million, ordinary profit from JPY 48,000 million to JPY 50,000 million but lowered the forecast for net profit from JPY 30,000 million to JPY 13,000 million and earning per share from JPY 87.66 to JPY 37.98 for the fiscal year ending March 31, 2014. The Company amended the consolidated full-year forecast due to favorable performance of medical business and record of extraordinary loss. The Company expects JPY 17 billion extraordinary loss due to lawsuit expenses for the fiscal year ending March 31, 2014. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of JPY 713.25 billion and net profit of JPY 33.69 billion for the fiscal year ending March 2014.  Full Article

Olympus Corp Announces Extraordinary Loss for Q2 of FY 2014
Thursday, 26 Sep 2013 10:30pm EDT 

Olympus Corp announced that it will record a JPY 260 million extraordinary loss on the payment for lawsuit settlement, for the second quarter of the fiscal year ending March 2014.  Full Article

Olympus Corp Announces Prosecution by UK Serious Fraud Office
Tuesday, 3 Sep 2013 11:00pm EDT 

Olympus Corp announced that the Company and its subsidiaries have been under investigation by the UK Serious Fraud Office (the “SFO”) in connection with its past activities in deferring the posting of losses as referred to in the press release titled “Notice Concerning Past Activities Regarding Deferral in Posting of Losses” on November 8, 2011. The Company has been cooperating fully with the SFO’s investigation. Having completed its investigation, the SFO has decided to bring a prosecution against the Company and Gyrus Group Limited, a United Kingdom-based subsidiary of the Company (“GGL”) on charges of breaching Section 501 of the UK Companies Act of 2006. The Company and GGL received requisitions issued by the SFO on September 3, 2013. Section 501 of the UK Companies Act 2006 provides the charges against certain person who made misleading or deceptive explanation to the auditors in connection with financial accounting of a UK company. The charges against the Company and GGL allege that certain representations made to the auditors of GGL in the documents related to GGL’s financial accounts for the fiscal years 2009 and 2010 were misleading, false or deceptive in a material particular, contrary to Section 501 of the UK Companies Act of 2006. After a hearing date before the Magistrates’ Court, it is expected that the matter will be transferred to the Crown Court for the future steps of the proceedings.  Full Article

R&I Upgrades Rating on Moves Olympus Corp to "BBB+"; Removes from Rating Monitor
Sunday, 18 Aug 2013 10:30pm EDT 

Rating and Investment Information, Inc. (R&I) announced that it has removed Olympus Corp from rating monitor, and has upgraded the rating on Olympus Corp from "BBB" to "BBB+". The outlook is stable.  Full Article


Exclusive: Commerzbank settlement with U.S. postponed amid probe

NEW YORK - Commerzbank AG's settlement with U.S. authorities over alleged sanctions violations has been postponed, possibly until the end of the year, as prosecutors seek to coordinate the resolution of a separate probe stemming from transactions at the German bank connected to the massive Olympus Corp accounting fraud, according to people familiar with the matter.

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