Arab Today, arab today sony olympus to sign tieup friday
Last Updated : GMT 18:14:55
Arab Today, arab today
Arab Today, arab today

Sony, Olympus to sign tie-up Friday

Arab Today, arab today

Arab Today, arab today Sony, Olympus to sign tie-up Friday

Tokyo - AFP

Electronics giant Sony and scandal-tainted Olympus will formally agree a capital tie-up on Friday, a report said, as both companies look to turn the page on disastrous chapters. The firms are expected to make an announcement following board meetings to approve the partnership, which will see them working together on medical equipment, the Nikkei business daily said. Sony will take a 50 billion yen ($645 million) private placement of Olympus shares by year-end for slightly more than 1,400 yen a share, making it Olympus's top shareholder, with a roughly 11 percent stake, it said. The companies will establish a joint venture to develop endoscopes, with the focus on a type used in keyhole surgery. Sony will hold a majority stake and appoint a senior official as the new firm's president, it said. Olympus's reputation was badly damaged after its British former chief executive blew the whistle last year on an accounting scam that saw $1.7 billion worth of losses moved off its balance sheet. The camera-maker has since announced a major overhaul that includes cutting about seven percent of its workforce, while its new boss has publicly said he is seeking a capital injection to shore up the company's finances. The firm reported a 4.46 billion yen loss in the April to June quarter. For the fiscal year to March, Olympus has said it expects to book a net profit of 7.0 billion yen on sales of 920 billion yen. For Sony, which continues to lose money in its mainstay television business, strengthening its medical equipment business has been a stated management goal. The once-world-beating maker of the Walkman lost a whopping 456.66 billion yen in the year to March, its fourth consecutive annual loss. It also reported a widening loss in its latest quarter and cut a profit forecast for the year. Earlier this week ratings agency Standard & Poor's downgraded its long-term corporate credit ratings on the firm to BBB, just two notches above junk status.

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 sony olympus to sign tieup friday Arab Today, arab today sony olympus to sign tieup friday

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present 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