Olympus has issued a statement following the arrest of seven officials suspected of breaching Japanese financial regulations, as international investigations into the u00a31.1 billion accounting cover-up continue.

Olympus has issued a statement following the arrest of seven officials suspected of breaching Japanese financial regulations, as international investigations into the £1.1 billion accounting cover-up continue.

Earlier today, former CEO Michael Woodford said the arrests were ‘vindication’ for four months of personal hell that saw him giving up his battle to return to the top job amid death threats and lack of support from Japanese investors.

Asked to comment on the arrests, a spokesperson for Olympus’s Tokyo office told Amateur Photographer (AP) this morning: ‘We are taking the matter very seriously.

‘We will continue to cooperate fully with the investigation authorities in order to help clarify facts.’

Last week, in a blaze of publicity, Olympus unveiled the first in a new series of cameras under the banner ‘OM-D’ (pictured above), featuring a classic design harking back to the famous OM film cameras of 40 years ago.

Latest business results show that Olympus has halved the operating losses of its digital camera division, yet is forecast to make a £260m loss for the business overall in the current financial year.

Olympus has repeatedly said that it has yet to decide whether to form a strategic alliance with another manufacturer.

Companies reported to be interested in a tie-up include Fujifilm, Sony and Samsung.

Woodford has told journalists that he is working on a book about the Olympus affair, to be published first in Japan and then the UK later this year.

Woodford plans to attend an Extraordinary Shareholders’ Meeting in Japan on 20 April.

Olympus Tokyo today told AP that it has yet to confirm details of the meeting, when asked where it will take place, and the agenda to be discussed.

BACKGROUND ARTICLES

AP INTERVIEW WITH FIRED CEO MICHAEL WOODFORD

Olympus HQ raided by prosecutors

Olympus denies camera division shake-up threat

Sacked Olympus boss outlines key to future

Plot thickens as Olympus fires vice president

We have lost customers’ trust, says Olympus president

Olympus is a good business, says sacked CEO

Olympus crisis: Japan PM enters fray

Olympus not aware of ‘FBI’ probe

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