Olympus Delays Earnings Release Pending Probe Into Acquisitions
This article is for subscribers only.
Olympus Corp. said it was postponing the release of second-quarter earnings pending the results of a probe into $1.4 billion of writedowns and fees related to the company’s acquisitions.
The company had been due to announce results on Nov. 8, and now aims to do so by the end of the month, spokesman Tsuyoshi Kitada said by phone today. Olympus on Nov. 1 asked a six-person independent committee, including two former judges and a retired prosecutor, to investigate allegations by former president Michael C. Woodford after he was axed Oct. 14.