Arab Today, arab today japan\s olympus \no comment\ on fbi probe reports
Last Updated : GMT 23:09:18
Arab Today, arab today
Arab Today, arab today

Japan\'s Olympus \'no comment\' on FBI probe reports

Arab Today, arab today

Arab Today, arab today Japan\'s Olympus \'no comment\' on FBI probe reports

Tokyo - AFP

Japanese camera maker Olympus on Tuesday declined to comment on media reports it was being investigated by the FBI over a near $700 million payment in advisory fees. The US Federal Bureau of Investigation probe comes after shares in the company have plunged, losing around half their value about two weeks following the ousting of British CEO Michael Woodford. Woodford was fired after raising questions about the size of payments made by Olympus in a series of deals between 2006 and 2008. Among them is the $1.92 billion acquisition of British medical-instruments company Gyrus Group and the $687 million paid to an adviser on the purchase. Woodford had commissioned a report on the deal from accounting firm PricewaterhouseCoopers (PwC) which queried why the payment was so high. The fee works out at more than a third of the total purchase price, much higher than the one or two percent normally charged in acquisition deals. The fees were paid to a Cayman Islands investment fund overseen by the US-based Axes, the New York Times reported. The banker at the centre of the controversy has met with the FBI about the matter, the Wall Street Journal reported, citing people familiar with the situation. A spokesman for Olympus in Japan, Tsuyoshi Kitada, declined to comment, saying only: \"We cannot answer as we have not obtained the information (about the FBI probe).\" Woodford was sacked only six months after being appointed president and two weeks after he was also named chief executive. The 30-year company veteran, Olympus\' first non-Japanese president and chief executive, said he was removed after he wrote to the company\'s chairman and urged him to resign over the payments, citing major governance concerns. Woodford also queried Olympus\' purchase of three Japanese companies unrelated to its core precision equipment businesses for hundreds of millions of dollars that it later wrote down. Shareholders have pushed Olympus for answers with the company\'s Tokyo stock exchange-listed shares on Tuesday at 1,185 yen, up 7.82 percent during the session after losing 11 percent on Monday. The shares have lost around 50 percent since their closing value on October 13, the day before Woodford\'s ouster.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan\s olympus \no comment\ on fbi probe reports Arab Today, arab today japan\s olympus \no comment\ on fbi probe reports

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan\s olympus \no comment\ on fbi probe reports Arab Today, arab today japan\s olympus \no comment\ on fbi probe reports

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday