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Olympus Corp (7733.T)

7733.T on Tokyo Stock Exchange

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22 Jun 2017
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Latest Key Developments (Source: Significant Developments)

Olympus announces notice of agreements with the U.S. Government
Tuesday, 1 Mar 2016 06:00pm EST 

Olympus Corp:Announces that certain of its subsidiaries have entered into agreements with the U.S. Department of Justice (“DOJ”) concerning a matter relating to the U.S. Anti-Kickback Statute and U.S. False Claims Act.For Agreement Concerning the U.S. Anti-Kickback Statute and U.S. False Claims Act, Olympus Corporation of the Americas (“OCA”) entered into a Deferred Prosecution Agreement with the DOJ in connection with this matter.OCA also entered into a Civil Settlement Agreement with the DOJ in connection with this matter.Pursuant to these agreements, OCA will pay to the U.S. government $612 million (approximately 70.4 billion yen) in criminal penalties and civil fines as well as approximately $11.2 million (approximately 1.3 billion yen) in interest.OCA also entered into a Corporate Integrity Agreement with the Office of Inspector General of the U.S. Department of Health and Human Services in connection with this matter.Under these agreements, OCA has agreed to make various improvements to its compliance program.For Agreement Concerning the U.S. Foreign Corrupt Practices Act, Olympus Latin America, Inc. (“OLA”) and certain of Olympus Corporation’s other subsidiaries, including OCA, entered into a Deferred Prosecution Agreement with the DOJ in connection with this matter.Pursuant to this agreement, OLA will pay to the U.S. government a $22.8 million (approximately 2.6 billion yen) criminal penalty, and has agreed to make various improvements to its compliance program.  Full Article

Olympus Corp to pay at least $646 million to end US probes - ASSOPR
Monday, 29 Feb 2016 10:31pm EST 

Olympus Corp:The nation's largest distributor of endoscopes and related equipment will pay $646 million to resolve separate criminal and civil investigations into kickbacks and foreign bribery -AP.Olympus Corp. announced Tuesday that its Pennsylvania-based U.S. unit will pay $623.2 million plus interest to end the kickback case in New Jersey.The company also agreed to a corporate-integrity agreement and the appointment of a monitor.The firm's Latin American medical business will pay $22.8 million to resolve a separate criminal case.Federal officials said they will drop criminal charges facing both units as part of the settlement.Olympus says the kickback case involves an investigation of financial relationships with medical business customers and doctors. The probe focused on activities between 2006 and 2011 to induce the sale of Olympus products.  Full Article

Olympus and subsidiary receive innocent verdict
Tuesday, 10 Nov 2015 05:00am EST 

Olympus Corp:Says the company and subsidiary Gyrus Group Limited received innocent verdict from Crown Court at Southwark, on Nov. 10.  Full Article

R&I affirms Olympus Corp's rating at "BBB+" and announces stable outlook
Friday, 21 Aug 2015 02:00am EDT 

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

Olympus announces investigation of subsidiaries and expects extraordinary loss for Q1 of FY 2016
Thursday, 6 Aug 2015 02:30am EDT 

Olympus Corp:Says indirectly holding subsidiary Olympus Latin America, Inc and Olympus Optical do Brasil, Ltda have received investigation from US Department of Justice of the based on the US Foreign Corrupt Practices Act, regarding medical business.Expected extraordinary loss of 2,421 mln yen for Q1 of FY ending March 2016.  Full Article

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