Japanese prosecutors began to search Olympus
Japanese prosecutors searched the scandal-hit company Olympus Corp. headquarters in Shinjuku and the former President Tsuyoshi Kikukawa's house in Kawasaki on Wednesday as the part of investigation for the cover-up of some about 1.5 billion U.S. dollars losses dating back to the 1990s, Xinhua reported.
A special investigative unit from the Tokyo District Public Prosecutors Office along with the Tokyo's Metropolitan Police Department and the Securities and Exchange Surveillance Commission made the enforcement action. But there are no details about what they found.
Olympus, the 92-year-old maker of cameras and medical equipment, said it would fully cooperate with the investigation by prosecutors, police and financial authorities.
The entire board of Japan's Olympus Corp. was signaled by its president Wednesday to resign at the next shareholders meeting. The scandal-plagued company said it still making efforts to avoid being delisted from the Tokyo Stock Exchange.