Friday May 25, 2012

JAPAN NEWS AND DISCUSSION

Olympus meets deadline for revised earnings report

Business Dec. 14, 2011 - 03:30PM JST ( 4 )

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4 Comments

-1

CrickyDec. 14, 2011 - 03:20PM JST

If you believe this, welcome...you are simulated. Not really welcome but a simulated.
4

NetNinjaDec. 14, 2011 - 03:35PM JST

Well people, it's time for you all to chime in again.

What do you think? What if Olympus is still cooking the books? 3 hours before the deadline? Shady.

It would be funny as hell if they tried to cover up a cover up with yet another cover up. I could see that happening in Japan though. Rarely do they learn from the first time.

When we were kids we had these blocks that we had to stuff through template barrels to practice quick recognition.

Circles in circles, squares through square, you remember I hope. There's always this one kid that sits there trying to stuff the square through the circle in the template, most of them go on to become politicians and CEOs at companies like Olympus.
1

some14someDec. 14, 2011 - 05:47PM JST

The company’s dubious accounting could still result in a delisting.

let's hope so.
1

globalwatcherDec. 15, 2011 - 01:46AM JST

The piles of documents for the reports dating back five years were accepted by financial regulators three hours before the deadline expired.

Two auditing companies, past and present, approved the corrected earnings reports. Ernst & Young ShinNihon LLC gave the go-ahead for earnings through to March 2010 and the past fiscal year, while KPMG Azsa LLC. signed off on the the three fiscal years through to March 2009 with some qualifications.

These two listed above have just confirmed that how bogus these original financial statements were. More coverups to cover up bogus statements? Why does it take two auditors to complete this tasks? Nahhh........ Olympus is gone from investor's perspectives. It still needs to go to delisting. Sorry guys, the hard works will yet to come.