Arab Today, arab today olympus meets stockmarket deadline to avoid delisting
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Olympus meets stockmarket deadline to avoid delisting

Arab Today, arab today

Arab Today, arab today Olympus meets stockmarket deadline to avoid delisting

Tokyo - Arabstoday

Japan\'s scandal-hit camera maker Olympus has filed revised earnings reports to avoid being delisted by the Tokyo Stock Exchange. The firm filed reports going back five years, three hours before a deadline passed which would have seen it automatically delisted. However, Olympus has not yet filed earnings for the year to March 2011. The company could still be delisted because of its accounting irregularities. Olympus has seen its fortunes slide after it fired former chief executive Michael Woodford in October. Mr Woodford claimed he was let go for questioning suspicious payments. The ensuing investigation caused Olympus shares to plunge and forced its chairman Tsuyoshi Kikukawa to step down. In early November Olympus admitted that it had been hiding losses for almost two decades.

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