Panasonic says no plan to invest in Olympus
News On Japan via Reuters -- Jun 10
Japanese electronics maker Panasonic Corp has no plan to invest in Olympus Corp , President Fumio Ohtsubo told Reuters on Thursday, contradicting a media report it would invest in the medical equipment maker Olympus, which is struggling to recover from an accounting scandal.
Kyodo news agency reported on Wednesday that Panasonic was making final arrangements to provide up to 50 billion yen ($630 million) in capital to Olympus.
"I don't know where that information came from, not from us," Ohtsubo said on the sidelines of a meeting of the Japan Electrical Manufacturers' Association. "There isn't any," he said when asked if Panasonic had a plan to invest in Olympus.
Olympus last year admitted it used improper accounting to conceal huge investment losses under a scheme that began in the 1990s, after sacked British CEO Michael Woodford raised concerns in October about dubious book-keeping.
|| Tokyo’s train perverts shift strategy as Saikyo sinks in significance |
| || On Saturday at around 11:30 a.m., officers arrested Hideaki Shoji, a resident of Yokohama, after he allegedly came up from behind a 21-year-old female college student and shot digital images up her skirt as she stood on a platform at Kuhonbutsu Station in Setagaya Ward. (Tokyo Reporter) |
|| LDP to address 'revenge porn' |
| || A panel of Japan's main ruling party will consider drawing up a law to ban 'revenge porn.' The term applies to the practice of posting sexually explicit images of former lovers on the Internet. (NHK ) |
|| Milwaukee rape ruling bolsters victims in Japan |
| || A 12-year battle for justice took an enormous financial, emotional and physical toll, says Catherine Jane Fisher. But for the Australian teacher of English and mother of three, it's time to savor a landmark court victory. (womensenews.org ) |
|| Miss International 2013 kicks off in Japan |
| || The Miss International 2013 beauty pageant has begun in Tokyo, Japan, on 7 December. Over 72 contestants will compete with each other for the 53rd Miss International title. (ibtimes.co.in ) |