A News Escort For Tokyo Escorts.

The Olympus logo on its camera is seen in this illustrative photograph taken in Tokyo November 24, 2011. — Reuters pic
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“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.
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Olympus shares surged as much as 28 per cent 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. The stock ended up 20 per cent.
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Rights issues are unwieldy and rare in Japan and private equity firms are often viewed as foreign asset strippers.
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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 “The Malaysian Insider”

~ by iarryflint on January 10, 2012.