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View Full Version : Olympus chairman Tsuyoshi Kikukawa resigns


Four Thirds User
26th October 2011, 11:40 AM
Four Thirds User (Fourthirds-user.com (http://fourthirds-user.com)) is a sibling site to the e-group.

In a new twist to the epic Olympus Corporation boardroom scandal we reported on last week, Olympus Corp. Chairman, Tsuyoshi Kikukawa, who both appointed Michael Woodford to the positions of President and later CEO of Olympus and then sacked him after Woodford turned whistleblower, has today resigned, although he will continue as a non-executive director.

More... (http://fourthirds-user.com/2011/10/olympus_chairman_tsuyoshi_kikukawa_resigns.php)

Ian
31st October 2011, 09:47 AM
Update: In an interview with the Financial Times, Japanese Prime Minister, Yoshihiko Noda, has called for clarity and action by members of an independent panel called in by Olympus to investigate the growing scandal of huge and largely unexplained payments by the company linked to company acquisitions. Noda is concerned that the Olympus scandal will be seen as symptomatic of Japanese corporate governence rather than an isolated case, which he firmly believes it is.

Ian

Ian
8th November 2011, 09:43 AM
Executive Vice President Mori has been fired. He was Kikukawa's right hand man. The newly appointed President and CEO replacement for Kikukawa, Shuichi Takayama (until recently the boss of the camera division) says that a history of practices of hiding losses in financial investments has been uncovered and that is why Mori was fired. Takayama says he was completely unaware of what had been going on. I'm not sure how this links to the four acquisitions and associated advisory fees that Michael Woodford has highlighted, but the Japanese authorities seem to be very concerned about the latest news. Many people in Olympus, past and present, could now be liable to criminal proceedings.

I've said this elsewhere, but let's assume that a rot within the company is being uncovered and hopefully excised. For me this is very positive because the underlying core businesses look to be sound and could benefit positively from what is going on in the long run.

Ian

RogerMac
8th November 2011, 09:51 AM
I've said this elsewhere, but let's assume that a rot within the company is being uncovered and hopefully excised. For me this is very positive because the underlying core businesses look to be sound and could benefit positively from what is going on in the long run.

Ian

I think it's a case of "If it does not kill you it will made you stronger"

Roger

Ian
10th November 2011, 09:13 AM
Another update; several investors in Olympus, mainly outside of Japan, are calling for Michael Woodford to be reinstated so the company's management can be cleaned up.

The question is whether or not the main Japanese shareholders will join the call.

Ian

wanderer
10th November 2011, 09:33 AM
I thought there might be something like this.
I'm beginning to wish I had some money spare to buy Oly shares.

Barkly
10th November 2011, 10:19 AM
My e620 still takes pictures.

Jim Ford
10th November 2011, 01:08 PM
I'm beginning to wish I had some money spare to buy Oly shares.

I'm thinking the same thing!

I've never bought shares. How do I go about it - just ask my bank?

Jim

Zuiko
10th November 2011, 01:15 PM
I'm thinking the same thing!

I've never bought shares. How do I go about it - just ask my bank?

Jim

Most banks have a share dealing service. :)

Nova Invicta
10th November 2011, 01:31 PM
The dangers for Olympus are still there. The medical division holds about a 70% global market share in the products it makes and generates very good margins. The camera division loses money and depending on how bad the hidden losses are may well end up being a victim of what is criminal actions by former & maybe present senior managers within Olympus. The share price has now fallen by 2/3rds which maybe to large a correction but until the full depth of the deception is uncovered its highly risky to buy Olympus shares.

Makonde
10th November 2011, 01:44 PM
The likelihood is that Olympus will be finished as a camera manufacturer. The camera div was not profitable overall; the shares are now at the point of being delisted (i.e. taken out of market trading) and the company vulnerable to takeover. While one can see the medical optics div being attractive and viable, which of Oly's rivals/former partners would want to take over a camera brand that was already somewhat beleaguered and unprofitable? Panasonic? Samsung? Sony? Canon? They'd surely rather see it die off.

Already I can't get spares for my E5 and after owning Oly cameras since 1974 I'm not going to spend another penny on Olympus.

Zuiko
10th November 2011, 01:57 PM
The likelihood is that Olympus will be finished as a camera manufacturer. The camera div was not profitable overall; the shares are now at the point of being delisted (i.e. taken out of market trading) and the company vulnerable to takeover. While one can see the medical optics div being attractive and viable, which of Oly's rivals/former partners would want to take over a camera brand that was already somewhat beleaguered and unprofitable? Panasonic? Samsung? Sony? Canon? They'd surely rather see it die off.

Already I can't get spares for my E5 and after owning Oly cameras since 1974 I'm not going to spend another penny on Olympus.

You can't get spares for your E-5?! :eek:

Makonde
10th November 2011, 03:15 PM
You can't get spares for your E-5?! :eek:

I need an Eyecup !

Zuiko
10th November 2011, 03:22 PM
I need an Eyecup !

Is it the same eyecup as used on the E-3, the one that always works loose and gets lost?

Makonde
10th November 2011, 03:31 PM
I don't know if it's the same one, but it has the exact behaviour you describe!

Zuiko
10th November 2011, 03:43 PM
I don't know if it's the same one, but it has the exact behaviour you describe!

Assuming it is the same (and I would imagine that it is) I have a spare to get you out of trouble, just PM me your address if you'd like me to post it. You can return the favour if and when a spare becomes available. :)

RogerMac
10th November 2011, 03:50 PM
I did wonder about holding mine on with a small drop of glue - is that a bad idea?


Roger

Zuiko
10th November 2011, 03:55 PM
I did wonder about holding mine on with a small drop of glue - is that a bad idea?


Roger

Glue might make it a bit permanent which could be a problem if the eyecup becomes damaged and needs replacing. A dab of Loctite thread lock might be better.

wanderer
10th November 2011, 04:31 PM
Its a bit of a sidetrack but the reason you probably can't get that spare is that I recently bought 5! cos they keep falling off rubbing against my highly expensive gut. (000s of beers over the years)

Back on track, I would think that Olympus skills in producing a robust, weatherproof body on a DSLR, being market leader on CSC and having excellent quality glass would be a useful buy for just about anybody.

Not forgetting any navel gazing with an endoscope.

Zuiko
10th November 2011, 04:33 PM
Not forgetting any navel gazing with an endoscope.

One Olympus product I'm in absolutely no hurry to use! :eek: :D

Makonde
11th November 2011, 11:58 AM
Assuming it is the same (and I would imagine that it is) I have a spare to get you out of trouble, just PM me your address if you'd like me to post it. You can return the favour if and when a spare becomes available. :)
That is most kind - pm sent!

I love my E-5 and HG lenses but I still think that as a camera manufacturer that was already in difficulties (sensor, marketing support, letting loyal 4/3 customers down, spares) and now seeing its rivals in smaller near-pro formats outstripping it, the financial shenanigans will be pretty terminal for Oly cameras.

On the other hand, if anyone has a 90-250 going for around 100 I might break my resolve not to spend a penny more on Olympus...

Chevvyf1
12th November 2011, 05:45 AM
Another update; several investors in Olympus, mainly outside of Japan, are calling for Michael Woodford to be reinstated so the company's management can be cleaned up.

The question is whether or not the main Japanese shareholders will join the call.

Ian

YES ! I did say this ages ago ! Thats what Fund Managers do ! He will have a BIG JOB to do, now that so many $ Y Millions have been wiped off the share price :( and may have to re capitalize their loans at much higher % interest rates :( and as the Med Imaging is the profit earner/recent big investment sector - DSLR cameras may go :( or E-7 shelved to the back boiler for a while :) as the focus is M43 & compaq now

wanderer
12th November 2011, 10:24 AM
Quote:
Originally Posted by wanderer

Not forgetting any navel gazing with an endoscope.

One Olympus product I'm in absolutely no hurry to use!
__________________


Actually John a photo taken with that might qualify for the most boring competition.:D

Zuiko
12th November 2011, 12:01 PM
Actually John a photo taken with that might qualify for the most boring competition.:D

Haha, I won't disagree with that! :D

Makonde
13th November 2011, 10:41 AM
Assuming it is the same (and I would imagine that it is) I have a spare to get you out of trouble, just PM me your address if you'd like me to post it. You can return the favour if and when a spare becomes available. :)

Excellent and many thanks - it 's now arrived but I am getting a database error from the website and unable to return pm.

The eyecup fits the E5 and I have tried to improve its semipermanence by putting a tiny blob of roof mastic in two corners! Let's see....

Off to photograph the wreath-laying now. Thanks again, John, and if/when my order eventually arrives I will send it on to you in replacement.

Ross the fiddler
13th November 2011, 12:29 PM
Actually John a photo taken with that might qualify for the most boring competition.:D

That would definitely be a tunnel I wouldn't want to bore. :eek:

Nova Invicta
16th November 2011, 12:16 AM
Olympus does own a lot of photographic IP and even recently filed new patents (relating to infrared pixels). It also owns two photographic factories in China that are relatively new and whilst it doenst make its own sensor neither does Nikon for instance which uses Sony or Cyprus (V1 & J1) sensors so in the right hands could be revived.
Panasonic would also lose the economy of scale on its micro 4/3rd sensors as both Olymus & Panasonic have similar market share well below Canon, Sony & Nikon. My bet is Olympus camera will survive but maybe not as part of Olympus itself.