Facing a huge loss, scandal-hit Olympus forced to look at tie-ups

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The group, which sacked its British chief executive Michael Woodford late last year after he exposed a $1.7 billion (£1 billion) accounting scandal, is looking at potential corporate tie-ups with rivals such as Sony, Fujitsu and Samsung.

But Olympus president Shuichi Takayama said today that the company was not in any concrete talks on deals and that any such steps must wait until the installation of new management after its annual shareholders' meeting in April.

The group blamed its ailing camera division for the losses, but analysts said its core endoscope manufacturing business remained strongly profitable. This is the business that rivals are most keen to acquire.

Olympus fired Woodford last October when he raised questions over dubious book-keeping. Olympus later admitted it used improper accounting to conceal massive investment losses under a scheme that began in the 1990s. It remains under investigation by law enforcement agencies in Japan, Britain and the United States.

In its October-December third quarter, Olympus, which has 70% of the global market for diagnostic endoscopes, reported a 756 million yen net loss, compared with a 2.04 billion yen net profit in the same period a year earlier.