Friday May 25, 2012

JAPAN NEWS AND DISCUSSION

Top Olympus shareholder Nippon Life reduces stake

Business Nov. 17, 2011 - 04:30PM JST ( 12 )

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12 Comments

0

Al StewartNov. 17, 2011 - 04:20PM JST

I have a feeling that they wont be delisted. I dont think that they will get that deep in trouble. They are pretty deep in it now yeah, I gotta feeling somehow they will pull out before they completely self destruct.
1

RecklessNov. 17, 2011 - 04:42PM JST

I thought it was buy low sell high?
0

some14someNov. 17, 2011 - 06:00PM JST

Closed-door Corrupt Practices likely to continue among Olympus, its bankers, insurers, etc.!
1

minello7Nov. 17, 2011 - 06:34PM JST

"The company promised its main lender Sumitomo Mitsui Banking Corp and others to reduce interest-bearing debts by 260 billion yen in three years from the current 660 billion yen, the Nikkei daily reported." Now thats scary,those are big telephone numbers,if I was a banker I would be calling for a lot of heads of Olympus directors. Now thats just 1 japanese companies dept. Goes to show its just one big club.
1

gyouzaNov. 17, 2011 - 07:11PM JST

They must have taken a huge hit financially to sell that. Wow!
1

GWNov. 17, 2011 - 07:23PM JST

Why the hell bother selling when the stock is so low, you might as well hang now, DOH!
1

vctokyoNov. 17, 2011 - 08:27PM JST

sell now because like lehman and enron ...at least you get some of your money back instead of nothing. who knows if olympus will ever come back.
-2

herefornowNov. 17, 2011 - 11:11PM JST

Interesting that even the other members of Japan Inc. are now turning on Olympus. But, as is always the case in Japan, the banks will jump in and prop them up with more loans, to make up for their incompetence. That's the model, and, besides, if they didn't, the banks would have to write off the JPY 600 billion in loans Olympus is already into them for. Great system. But a system on life support.
0

John BeckerNov. 18, 2011 - 02:48AM JST

Concerning the "closed-door" meetings... There's a good chance that voices were raised. Insurance companies and banks don't take kindly to being lied to about their money. There's a good chance that board officers from the banks and insurance companies will also wind up sitting on the Olympus board "in exchange for" patience while Olympus reduces its debt.

Unless the creditors' plan is to sell off their remaining Olympus shares in stages, I just don't get this partial divestiture. If you think Olympus is done, sell it off now and cut your losses. If you think they'll be back, buy more now while it's cheap!
0

Mark_McCrackenNov. 18, 2011 - 03:16AM JST

Woodford now saying he will return to Japan next Wednesday. afternoon.
0

globalwatcherNov. 18, 2011 - 03:32AM JST

Nippon Life Insurance and the banks have a fiduciary duty (legal) to shareholders (domestic and global investors) as well as Olympus to shareholders. I am surprised to learn that the Nippon Life did not sell all stakes of Olympus now as the Olympus still cannot produce its financial statement to the public.

I hate tell you this, but more times go by, we will see more damage done to the Olympus. Time is money here.
0

ElvensilvanNov. 18, 2011 - 11:35AM JST

GW: Why the hell bother selling when the stock is so low, you might as well hang now, DOH!

I think Nippon Life did this to "recoup some losses while we can", just in case Olympus doesn't survive, they would have managed to recover a part instead of getting a big fat zero.