Olympus exposes $6.5 billion trillion in financial scandals

The events of Olympus's financial scandal ushered in a winding development. A recent report that Olympus is expected to pay fines to avoid the withdrawal of the market, resulting in the shares of the stock won the "Jedi rebound." Takagi Nomura, analyst Satoshi Yuzaki of Tokyo's Takagi Securities company, said: "Investors are buying back the stock, and some speculators may be involved in buying it, affected by the reports that Olympus can avoid delisting."　　According to the Southern Daily Reporter, since the June 21 this year to touch the highest point this year, Olympus shares have fallen 84%, and by avoiding the good of the market to stimulate its share price is expected to get a certain rebound. November 8, Olympus official announcement revealed that the former chairman of the company, Senju and former executive vice president of the Shikong and Auditor-General, by paying sky-high fees to the advisory body to cover the losses caused by the company's investment in the past century, the total amount of up to 100 billion yen (about 8.2 billion yuan )。 The Tokyo Stock Exchange later said it would consider listing the unit in the delisting watch list. The news of the withdrawal, Olympus shares continued to be sold by investors, Singapore government investment Company announced November 12, the company has almost emptied its holdings of about 2% Olympus shares.　　According to statistics, after nearly one consecutive months of decline, Olympus company market value evaporation exceeds 6.5 billion U.S. dollars. The biggest problem in front of Olympus is that if Olympus fails to announce its first half of 2011 earnings before the deadline, it will face a retreat, and once it's back, it could cause incalculable damage to Olympus as a whole. November 14 is the deadline for Japanese listed companies to submit their last quarterly earnings. Olympus initially established the earnings date of November 8, but due to a total of 1.4 billion U.S. dollars in writedowns and mergers and acquisitions advisory fees to investigate, the company has postponed the release time. Olympus said November 10 that it may not be able to release the results on time before the deadline and plans to release earnings by December 14. And if Japan's securities regulator is really as likely to suggest a fine on Olympus's earnings fraud than to force a retreat, it is no doubt that the Japanese government spared Olympus on the most crucial issue. Nanfang Daily reporter Dan