Key Developments: Olympus Corp (7733.T)

7733.T on Tokyo Stock Exchange

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16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Olympus Corp Announces Verdict of Lawsuit
Monday, 8 Jul 2013 04:00am EDT 

Olympus Corp announced that on July 3, 2013, Tokyo District Court has announced the verdict regarding the lawsuit filed by Tokyo District Public Prosecutor's Office against the Company, due to the Company's violation of Financial Instruments and Exchange Act. According to the lawsuit, the Company was requested to pay a penalty of JPY 700 million.  Full Article

Olympus Corp to Issue New Shares in Overseas Market and to Distribute Treasury Stock
Monday, 8 Jul 2013 04:00am EDT 

Olympus Corp announced that it has decided to issue up to 37,000,000 new shares of its common stock in the United States and Europe markets, with SMBC Nikko Capital Markets Limited, UBS Limited and Morgan Stanley & Co. International plc as underwriters. The issuance price will be decided later. The Company also announced that it has decided to distribute 4,000,000 shares of its treasury stock, in the United States and Europe markets. The price will the same as the newly issued shares.  Full Article

Olympus Corp to Establish Joint Venture with Sony Corp
Wednesday, 3 Apr 2013 02:00am EDT 

Olympus Corp announced that it will establish a joint venture engaged in medical business with Sony Corp on April 16, 2013. The details were disclosed on September 28, 2012.  Full Article

Sony Corp And Olympus Corp Update On Status For Establishment Of Medical Business Venture Company
Tuesday, 2 Apr 2013 02:01am EDT 

Olympus Corp (Olympus) and Sony Corp (Sony) updated the status of the medical business venture company (the medical business venture) that has been the subject of discussions between the two parties, and which will be established in accordance with the business alliance agreement executed on September 28, 2012. Olympus and Sony announced in the press release 'Update on the Status for Establishment of Medical Business Venture Company between Olympus and Sony' dated December 21, 2012 that the companies aimed to establish the medical business venture by April 1, 2013, subject to customary closing conditions, including the receipt of any necessary regulatory approvals. The examination by the relevant authority is taking longer than expected, but the Company understand the examination process is currently in its final stage. Olympus and Sony expect to announced establishment of the medical business venture promptly after the establishment date is fixed.  Full Article

Olympus Corp Announces Lawsuit Filed by Institutional Investors
Monday, 1 Apr 2013 03:30am EDT 

Olympus Corp announced that 68 overseas institutional investors have filed a lawsuit against the Company on December 13, 2012, claiming a compensation of JPY 5,892,443,184, for the misstatement in its financial reports.  Full Article

Sony Corp, Olympus Delay Medical Venture As Regulatory Approval On Hold-Reuters
Friday, 29 Mar 2013 02:32am EDT 

Reuters reported that Sony Corp and Olympus Corp have again delayed the start of a joint venture (JV) to develop medical equipment because they have yet to gain approval from some regulators. Plans by the Japanese companies to establish a joint venture to design and build medical devices have struggled to win approval in China, according to a source at one of the corporations familiar with the matter. Neither Sony or Olympus have said where they are still awaiting permission from regulators.  Full Article

Olympus Corp and Sony Corp Announce Update on Establishment of Joint Venture
Friday, 29 Mar 2013 02:00am EDT 

Olympus Corp and Sony Corp announced that it has to extend the date of establishment of joint venture, which was announced on September 28, 2012.  Full Article

Olympus Corp Completes Private Placement to Sony Corp; Announces Changes in Shareholding Structure
Friday, 22 Feb 2013 01:30am EST 

Olympus Corp announced that it has completed the private placement of 21,287,900 shares of its common stock at the price of JPY 1,454 per share to Sony Corp. As a result, Sony has become the top shareholder of Olympus with 11.46% voting rights, up from 4.72%, effective February 22, 2013.  Full Article

Olympus Corp Lowers Full-year Consolidated Outlook for FY Ending March 31, 2013
Tuesday, 12 Feb 2013 01:30am EST 

Olympus Corp announced that it has lowered its full-year consolidated outlook for revenue from JPY 757,000 million to JPY 740,000 million, operating profit from JPY 38,000 million to JPY 35,000 million, ordinary profit from JPY 16,000 million to JPY 11,500 million, net profit from JPY 8,000 million to JPY 6,000 million and earnings per share from JPY 28.89 to JPY 21.66 for the fiscal year ending March 31, 2013. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 744,130 million, operating profit of JPY 36,730 million and net profit of JPY 7,070 million.  Full Article

Olympus Corp to Acquire Manufacturing Centers
Friday, 21 Dec 2012 01:30am EST 

Olympus Corp announced that it has decided to acquire two Fukushima-based manufacturing centers and an Aomori-based manufacturing center, for approximately JPY 9.4 billion, JPY 8.6 billion and JPY 1.7 billion respectively, or for JPY 19.7 billion in total. The effective date is not disclosed.  Full Article

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Olympus says being sued by six banks for $273 million over 2011 scandal

TOKYO - Olympus Corp on Wednesday said six Japanese trust banks have filed a lawsuit against the endoscope maker seeking 27.9 billion yen ($273 million) for damages relating to a $1.7 billion accounting scandal in 2011.

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