Economics
Scandal-Hit Camera Maker Olympus Tries to Re-Focus Five Years On
- CEO Sasa eyes acquisitions to tap new markets, rev up growth
- Company faces lawsuits related to endoscopes and ex-CEO
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Five years ago, Olympus Corp. was caught up in the oddest of corporate scandals. Its then-CEO, Michael Woodford, uncovered an accounting scandal at the company that went undetected for years, besmirching the name of a once-proud Japanese maker of digital cameras and medical equipment.
The challenge of getting the company out of the penalty box, restoring investors’ trust and expanding again has fallen to Hiroyuki Sasa, who took over as CEO in 2012. “It’s an endless effort,” Sasa said in an interview in the company’s Tokyo headquarters.