Olympus delays release of earnings report

The Tokyo Stock Exchange has designated the shares of scandal-hit optical machinery maker Olympus as a supervisory issue, as the company is unable to release its earnings report by the legally-binding deadline of Monday.

Olympus said on Thursday that it cannot issue its earnings report for the April-September period by next Monday.

Olympus cites an ongoing investigation by a 3rd-party panel into the allegation that the firm covered up huge investment losses.

Following the announcement, the Tokyo Stock Exchange designated Olympus shares as a supervisory issue that requires monitoring and called for investors' caution.
The bourse will lift the designation if Olympus releases its earnings report by December 14th. If Olympus does not meet this extended deadline, it will be delisted from the Tokyo Stock Exchange.

Olympus says it will do all it can to release the report by the final deadline.

Thursday, November 10, 2011 17:14 +0900 (JST)