A News Escort For Tokyo Escorts.

By Yoko Kubota and Linda Sieg TOKYO | Tue Jan 10, 2012 1:01pm GMT TOKYO (Reuters) – Japan’s disgraced Olympus Corp is suing its president and 18 other executives, past and present, for up to $47 million (30 million pounds) in compensation, as it struggles to recover from one of the nation’s worst accounting scandals. The maker of cameras and medical equipment said on Tuesday all board members subject to the lawsuit would quit in March or April, leaving it in the extraordinary position for now of continuing with its most senior executive, Shuichi Takayama, and five other directors it is suing for mismanagement.One analyst likened the current board to condemned men, resigned to their fate, and said they would have difficulty over the next few months making any strategic decisions, leaving Olympus more vulnerable to an eventual takeover.”Essentially, everyone feels they are on death row. It does seem extremely strange to have the death row cell inside the company,” said Nicholas Smith, head of Japanese equ …

See the full article from “Reuters UK”

TOKYO, Jan 10 (Reuters) – Japan’s disgraced Olympus Corp is suing 19 current and former executives, including its current president, for up to almost $50 million in compensation, as it struggles to recover from one of the nation’s worst accounting scandals.
…
Olympus shares surged nearly 30 percent on the news, with investors betting the company’s clean-up efforts would help it to avoid a humiliating delisting from the Tokyo Stock Exchange, in turn helping to ensure it stayed on bidders’ radars.
…
Rights issues are an unwieldy and rare in Japan and private equity firms are often viewed as foreign asset strippers.
…
Sources told Reuters on Monday that the Tokyo Stock Exchange was likely to keep Olympus listed under a “security on alert” designation, which would effectively enable it to remain traded provided it showed steady improvement in its internal controls.

See the full article from “Reuters”

The Olympus logo on its camera is seen in this illustrative photograph taken in Tokyo November 24, 2011. Credit: Reuters/Kim Kyung-Hoon
…
“Essentially, everyone feels they are on death row. It does seem extremely strange to have the death-row cell inside the company,” said Nicholas Smith, head of Japanese equity strategy at CLSA in Tokyo.
…
Olympus shares surged nearly 30 percent on the news, with investors betting the company’s clean-up efforts would help it to avoid a humiliating delisting from the Tokyo Stock Exchange, in turn helping to ensure it stayed on bidders’ radars.
…
Rights issues are an unwieldy and rare in Japan and private equity firms are often viewed as foreign asset strippers.
…
Sources told Reuters on Monday that the Tokyo Stock Exchange was likely to keep Olympus listed under a “security on alert” designation, which would effectively enable it to remain traded provided it showed steady improvement in its internal controls.

See the full article from “Reuters”

TOKYO (Reuters) – Michael Woodford, the ousted boss of Japan’s Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief executive officer, however, appears doomed.
…
How much it can raise may be limited by Tokyo Stock Exchange listing rules that require a company to seek either shareholder approval or an independent entity to bless an offering equal to more than 25 percent of outstanding shares. At the current stock price that would restrict it to 72 billion yen.
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue — but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.

See the full article from “Malaysia Star”

TOKYO (Reuters) – Michael Woodford, the ousted boss of Japan’s Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief executive officer, however, appears doomed.
…
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue – but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.
…
(Additional reporting by Junko Fujita and Taiga Uranaka in TOKYO and Alexander Smith in LONDON; Editing by Mark Bendeich and Ian Geoghegan)

See the full article from “Huffington Post”

TOKYO (Reuters) – Michael Woodford, the ousted boss of Japan’s Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief executive officer, however, appears doomed.
…
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue – but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.
…
(Additional reporting by Junko Fujita and Taiga Uranaka in TOKYO and Alexander Smith in LONDON; Editing by Mark Bendeich and Ian Geoghegan)

See the full article from “Yahoo!7 News”

Former Olympus CEO Michael Woodford waves from a car window as he leaves at a news conference at the Japan National Press Club in Tokyo December 15, 2011. Credit: Reuters/Issei Kato
…
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue – but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.
…
(Additional reporting by Junko Fujita and Taiga Uranaka in TOKYO and Alexander Smith in LONDON; Editing by Mark Bendeich and Ian Geoghegan)

See the full article from “Reuters India”

TOKYO (Reuters) – Michael Woodford, the ousted boss of Japan’s Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief executive officer, however, appears doomed.
…
How much it can raise may be limited by Tokyo Stock Exchange listing rules that require a company to seek either shareholder approval or an independent entity to bless an offering equal to more than 25 percent of outstanding shares. At the current stock price that would restrict it to 72 billion yen.
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue – but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.

See the full article from “Reuters UK”

TOKYO (Reuters) – Michael Woodford, the ousted boss of Japan’s Olympus Corp, has won the battle to force his former employer to admit to more than a decade of accounting fraud. His bid to return as chief executive officer, however, appears doomed.
…
How much it can raise may be limited by Tokyo Stock Exchange listing rules that require a company to seek either shareholder approval or an independent entity to bless an offering equal to more than 25 percent of outstanding shares. At the current stock price that would restrict it to 72 billion yen.
Woodford, who was a rare foreign CEO in Japan, has outlined his own ideas for Olympus to raise capital, through either private equity or a rights issue – but both are unlikely to win support from Japanese investors, Tokyo investment bankers say.
Rights issues are an unwieldy and rare form of raising capital in Japan, and domestic shareholders may flinch from selling part of Olympus to private equity firms which are often viewed in Japan as foreign asset strippers.

See the full article from “Reuters”

… Print this article
Tokyo pimp busted for running home hooking service
TOKYO (TR) – Tokyo Metropolitan Police arrested a 35-year-old man for dispatching women from two apartments to supply sexual services to men, reports the Sankei Shimbun (Nov. 21).
Hiromasa Shishijima, residing in Fuchu City, was taken into custody for violating the Anti-Prostitution Law. “I started doing it to earn money,” the suspect is quoted by police.
According to investigators, Shishijima, who is employed independently in interior design, began his side business in December, 2009 from an apartment in Tachikawa. Utilizing mobile phone encounter sites, the suspect dispatched women from a standby pool of up to six to male customers introduced through mobile phone encounter sites.
Including a similar operation Shishijima operated from an apartment in Machida, the suspect collected 50 million yen in revenue, police said.

See the full article from “The Tokyo Reporter”