Friday, 28 October 2011

Olympus denies wrongdoing as groups urge reforms (AP)

Olympus Corp. spokesman Akihiro Nambu, center, and other top executives bow after a press conference in Tokyo, Thursday, Oct. 27, 2011. Olympus Corp.'s new president, Shuichi Takayama, who also attended the press conference, says his company has done nothing wrong in past acquisitions, defending the purchases as strategic amid escalating scrutiny triggered by its recently fired CEO. (AP Photo/Koji Sasahara)AP - The new president of embattled Olympus Corp. on Thursday denied the company's $687 million payment for financial advice was excessive, while foreign business groups urged Japan to bolster its lagging corporate governance rules to avoid more high-level scandals.


Source: http://us.rd.yahoo.com/dailynews/rss/japan/*http://news.yahoo.com/s/ap/20111027/ap_on_bi_ge/as_japan_olympus

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