Olympus says its directors had u2018no personal interestsu2019 with a US-based financial adviser at the centre of a controversy that has led to a 50% crash in the camera makers' share price.
Olympus says its directors had ?no personal interests? with a US-based financial adviser at the centre of a controversy that has led to a 50% crash in the camera makers’ share price.
Olympus has today issued a lengthy statement, detailing its previous acquisition deals and denying wrongdoing over the crisis that led to the sacking of its CEO Michael Woodford after he questioned $687m payments to financial advisers in 2008.
Woodford has not accused Olympus directors of benefiting personally from the deals.
Yesterday, Olympus chairman Tsuyoshi Kikukawa quit in response to ‘widespread concerns’ raised by shareholders.
In its statement, Olympus confirms that it hired a US firm called Axes America to advise it on the acquisition of British medical equipment firm Gyrus.
Axes, adds Olympus, was represented by Hajime Sagawa who had worked for a New York-based Japanese securities company.
?Please note that there are no personal interests between our Directors and Axes/Mr Sagawa,? reads the statement published on the Olympus website this afternoon.
Olympus also denies it broke the law relating to payments made to Axam Investments Ltd, a firm based in the Cayman Islands which was also involved in the Gyrus deal.
The FBI is reportedly investigation the Olympus deals.
The FBI has yet to respond to our request for comment.