February 27, 2012 / 9:28 AM / 6 years ago

Olympus president-nominee: to form business plan before mulling

TOKYO (Reuters) - Olympus Corp’s president-nominee Hiroyuki Sasa said on Monday the company would come up with a business strategy before considering capital tie-ups, and that its project team was still mulling a restructuring plan.

He said he would restructure the company’s business portfolio including selling businesses, to put it on a sound financial footing.

Olympus earlier on Monday proposed a new board of directors in a bid to recover from a $1.7 billion accounting fraud, nominating Sasa as president and former banker Yasuyuki Kimoto as chairman.

Reporting by Tim Kelly; Editing by Michael Watson

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