Fujifilm: still await Olympus decision on tie-up

Reuters News
Posted: Sep 04, 2012 1:36 AM
Fujifilm: still await Olympus decision on tie-up

TOKYO (Reuters) - Japan's Fujifilm Holdings Corp is still waiting for Olympus Corp to make a decision on whether to accept its proposal for a tie-up, an executive said on Tuesday.

"We are still awaiting a decision ... and there is no change in our proposal to them either," Kouichi Tamai, senior vice president and general manager of Fujifilm's medical system business division, told reporters.

Olympus is working to finalize a capital deal and mend its troubled finances after it booked a net loss of 49 billion yen ($626 million) for the year ended March 31 after being embroiled in a scandal over a decade-long scheme of falsifying financial statements and hiding investment losses.

Sources familiar with the matter have said Olympus is in final talks with Sony Corp to accept a cash injection in return for a stake, while medical device maker Terumo Corp has also said it is seeking to form a joint holding company with Olympus as part of a 50 billion yen capital infusion plan.

Hold The Damn Vote Already
Derek Hunter

($1 = 78.2600 Japanese yen)

(Reporting by Mari Saito; Editing by Michael Watson)