Olympus to hold shareholder meeting on April 20

Last Updated: Sunday, February 5, 2012 - 19:03

Tokyo: Japan's troubled Olympus Corp said on Sunday it will hold an extraordinary shareholders meeting on April 20, when it is expected to seek approval of a new management team.

The maker of cameras and medical equipment is struggling to emerge from a $1.7 billion accounting scandal and is continuing operations under a hobbled board, of which six members, including company president Shuichi Takayama, plan to quit by April.

Fujifilm Holdings, Sony Corp and Panasonic are among firms speculated to be potential partners for Olympus.

Takayama said on January 18 that his company had not been in specific talks with any of those firms and that Olympus would wait until after a management overhaul in late April to bring in a potential strategic partner.

Olympus has said it plans to announce its October-December third quarter earnings results on February 13.

Bureau Report

First Published: Sunday, February 5, 2012 - 19:03

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