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Sony plans to invest in Olympus
Source: Bloomberg News |
September 29, 2012, Saturday
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Print Edition
Print Edition
SONY Corp, Japan's largest consumer-electronics exporter, will invest 50 billion yen (US$645 million) in Olympus Corp as part of its strategy to move into the medical equipment business.
The two companies will form a joint venture to make endoscopes and other medical devices, according to finance ministry filings. Olympus is the world's largest endoscope maker with a 70 percent market share.
The investment will help Olympus, which admitted to a 13-year accounting fraud last year, shore up its capital ratio as it recovers from the scandal that led the company to restate earnings and replace its entire board.
The two companies will form a joint venture to make endoscopes and other medical devices, according to finance ministry filings. Olympus is the world's largest endoscope maker with a 70 percent market share.
The investment will help Olympus, which admitted to a 13-year accounting fraud last year, shore up its capital ratio as it recovers from the scandal that led the company to restate earnings and replace its entire board.
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