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.
|| 3 cats found mutilated to death in Ehime park |
| || Police in Niihama, Ehime Prefecture, are investigating the mutilation deaths of three cats whose bodies were left in a park. Two were found dead in February, and the third was found on Saturday. (Japan Today ) |
|| Thousands protest in Japan ahead of Fukushima anniversary |
| || Banging on drums and waving "Sayonara nukes" signs, thousands of people rallied in a Tokyo park and marched to Parliament on Sunday to demand an end to nuclear power ahead of the third anniversary of the Fukushima disaster. (scmp.com ) |
|| Fewer than 40 pct of Tokyo residents, commuters prepared for quake |
| || Fewer than 40 pct of residents and commuters in Tokyo take specific measures to prepare for a possible huge earthquake beneath the Japanese capital, despite high awareness on disaster prevention, a Metropolitan Police Department survey showed Friday. (Jiji Press ) |
|| Blizzard pummels northern Japan |
| || A blizzard struck northern Japan on Friday with authorities warning of avalanches, high waves, strong winds and traffic disruption. (thehindu.com ) |
|| Kashiwa murder suspect says he wanted to fly hijacked plane into Skytree |
| || The man under arrest for fatally stabbing one man and wounding three others during a 10-minute rampage in Kashiwa, Chiba Prefecture, on Monday night, told police on Thursday that he wanted to hijack a plane at Haneda airport and fly it into Tokyo Skytree to take revenge on society. (Japan Today ) |
|| Japan's Beethoven apologizes before cameras |
| || The man lauded as "Japan's Beethoven," who has admitted he never wrote his compositions, appeared before cameras for the first time since the scandal surfaced - clean-shaven and minus his trademark sunglasses. (abcnews.go.com ) |