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Olympus Corp (7733.T)

7733.T on Tokyo Stock Exchange

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24 Nov 2017
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Latest Key Developments (Source: Significant Developments)

R&I upgrades Olympus's rating to "A- " and announces stable rating outlook – R&I
Friday, 7 Oct 2016 

Olympus Corp <7733.T>: Rating and Investment Information, Inc. (R&I) raised the co's issuer rating to "A-" from "BBB+"– R&I .Rating outlook stable– R&I.  Full Article

Olympus announces application of International Financial Reporting Standards
Friday, 17 Jun 2016 

Olympus Corp <7733.T> : Says it plans to apply International Financial Reporting Standards (IFRS) as the new accounting method, to replace the current Japan-Generally Accepted Accounting Principles .Says IFRS effective from the Q1 report for fiscal year ending March 2018.  Full Article

Olympus Corp of The Americas, Arc Medical Design enter into distribution agreement
Friday, 6 May 2016 

Olympus Corporation Of The Americas: Olympus Corporation Of The Americas enters into U.S. and Canada distribution agreement with Arc Medical Design Ltd, a subsidiary of Norgine for Endocuff vision .Financial terms were not disclosed.  Full Article

Olympus announces settlement with former directors
Thursday, 24 Mar 2016 

Olympus Corp:Reaches settlement with 13 former directors, regarding the lawsuit for compensation of damages filed by the company (the plaintiff) against the 19 former and current directors (at that time) (the defendants) of the company.The defendants to pay totaling 71,970,600 yen as settlement, and the plaintiff gives up the rest of the requests.  Full Article

Olympus announces notice of agreements with the U.S. Government
Tuesday, 1 Mar 2016 

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
Tuesday, 1 Mar 2016 

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

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Kobe Steel scandal latest to expose 'Made-in-Japan' fault-lines

TOKYO Under the once-vaunted "keiretsu" system of close, trust-based ties between manufacturers and suppliers, "Made-in-Japan" became a byword for industrial quality and reliability.