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OLympus crisis deepens as Tokyo Stock exchange warns Oly of delisting

Discussion in 'Micro 4/3 News and Rumors' started by Bhupinder2002, Nov 10, 2011.

  1. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer

    The current Olympus crisis has gone from bad to worse as Tokyo stock exchange has warned them of delisting and placed its shares under strict supervision.I am wondering what will happen to Olympus. These multinationals sometimes fall with their own weight and greed.
    http://www.dpreview.com/news/1111/11111005olympuswarning.asp
     
  2. Ned

    Ned Mu-43 Legend

    Jul 18, 2010
    Alberta, Canada
    I'm sure they'll submit by Dec 14th. That's ridiculous though that they are threatening them with this kind of deadline, when they know the reason they can't submit is because they have to clean up their own accounting and make things right!
     
    • Like Like x 1
  3. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer

    Lets hope Ned this gets resolved as soon as possible-fingers crossed
     
  4. lenshoarder

    lenshoarder Mu-43 All-Pro

    Nov 7, 2010
    Not ridiculous at all. A stock exchange has the responsiblity to ensure that the companies it lists are legit. Quite frankly, with their recent omissions, Olympus has shown that it isn't. I'm surprised they haven't already been delisted until they can prove otherwise. Remember, this isn't just a one quarter event done by a single accountant. It went on for decades and involved much if not all of the top management. Afterall, in the end, it's management's job to make sure all the numbers line up. For investors, it's really the only job that matters. So either they were criminal or incompetent. Either way, for this cloud to be lifted. Top management, including the board, needs to be replaced.

    For the non stock traders. What will it mean for Olympus to get delisted? Not much. If they aren't planning on doing a secondary, which would be impossible right now anyways, it has no impact. Olympus will just be traded on the pink sheets, where all the "junk" stocks are traded.
     
    • Like Like x 6
  5. Henk

    Henk Mu-43 Regular

    196
    Aug 18, 2010
    the Netherlands
    They still do pay you Ned?
     
  6. Ned

    Ned Mu-43 Legend

    Jul 18, 2010
    Alberta, Canada
    Yes, but losing them as a client is a much smaller concern to my business than losing them as a product provider. So like all the rest of you, I just want to see the cameras and optics which I use in my daily life, both professionally and casually, to remain and continue. :)
     
  7. M4/3

    M4/3 Mu-43 Top Veteran

    713
    Sep 24, 2011
    Oly stock price is now down 80% from a month ago: OCPNY.PK Basic Chart | OLYMPUS CORP SP ADR Stock - Yahoo! Finance

    I know nothing about accounting, but I wonder if other Japanese companies might have done similar things to hide loses beginning in the early 1990's as economic conditions worsened? Could Oly be just the tip of the proverbial iceberg?
     
  8. KVG

    KVG Banned User

    May 10, 2011
    yyc(Calgary, AB)
    Kelly Gibbons
    Maybe I should get the 45mm sooner than later.
     
  9. Bokeaji

    Bokeaji Gonzo's Dad O.*

    Aug 6, 2011
    Austin, TX
    Dooooooooo eeeeeeeeeeeet!!!
     
  10. lenshoarder

    lenshoarder Mu-43 All-Pro

    Nov 7, 2010
    Personally, I'd wait. Generally when companies go under their products get firesaled out during BK. It's a risk reward thing. Risk is that there won't be any left. Reward will be a lower price. If they are in the mass market distributor supply chain, then there should be plenty since the picosecond a possible BK occurs then most of the public won't touch anything with a Olympus logo on it.
     
  11. John M Flores

    John M Flores Mu-43 All-Pro

    Jan 7, 2011
    Somerville, NJ
    Talk about vultures circling the still warm carcass :rofl:

    Count me in!
     
  12. goldenlight

    goldenlight Mu-43 All-Pro

    Jan 30, 2010
    Essex
    John
    Everybody seems to be speculating which, if any, major camera manufacturer will buy Olympus camera division if they go under. Since most the factories are in China and no doubt leased rather than owned, maybe the Chinese will continue production under their own banner. Just think, a year from now we could all be using Seagulls.

    Maybe it's not so far fetched. The Chinese seem keen to get into all markets these days and "Made in China" is rapidly becoming synonymous with quality and value. With only the R&D department to relocate, the aquisition of Olympus would be a great way for the Chinese to get their own branding into a market in which they already dominate in practice. "Zuiko" is even a Chinese word (as well as Japanese), which roughly translates as "auspicious light," or "goldenlight." :smile:
     
  13. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer

    Yes u should wait. U might get Oly lenses and cameras as bonus when u buy a tupperware dinner set. If u guys remember , tupperware was one of the companies which received money from Olympus. The funniest thing is that Panasonic australia offers Tupperware dinner set as bonus when u buy some products.
    :rofl:
     
  14. krugorg

    krugorg Mu-43 Hall of Famer

    Jul 18, 2011
    Minnesota USA
    You mean the upcoming pro, weatherproof Oly is actually just a standard body inside a tupperware container? :2thumbs:
     
    • Like Like x 2
  15. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer

    Lol ..ya quite possible.Olympus may say the money was just get technology from Tupperware so that they could weather seal camera bodies just like TW products..lol .So soon hubbies will join tupperware parties hosted by wives because u will get an Oly camera/ lens free with them ..lol
    :rofl:
     
  16. goldenlight

    goldenlight Mu-43 All-Pro

    Jan 30, 2010
    Essex
    John
    No, it is a tupperware container. It has a tiny hole at one end and you place a sheet of film at the other end, before sealing the lid with gaffer tape.

    It's being marketed as fully waterproof, fastest focussing (it's focus free), with a tiny aperture for maximum DOF, built in permanent pin-hole Art Filter and fullly interchangeable single use sensor.

    Olympus R&D aren't completely happy with it, but it was all their budget would allow. :rofl:
     
    • Like Like x 1
  17. krugorg

    krugorg Mu-43 Hall of Famer

    Jul 18, 2011
    Minnesota USA
    :rofl:

    It better have an optical viewfinder (non-colored Tupperware area on both sides), or I am going to predict the imminent demise of the m4/3 system! Otherwise, count me in.
     
    • Like Like x 1
  18. RT_Panther

    RT_Panther Mu-43 Legend

    May 4, 2011
    Texas
    • Like Like x 1
  19. BarefootPilgrim

    BarefootPilgrim Mu-43 Top Veteran

    517
    Dec 23, 2009
    Westchester, IL
    Bob
    And they also couldn't figure out how to "burp" it without allowing moisture inside. :biggrin:
     
    • Like Like x 1
  20. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer

    And MFT will be renamed - My Favourite Tupperware :rofl: