Olympus Meets Deadline to Avoid Delisting. Rumors: Fuji to buy Olympus???

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Olympus managed to present their revised financial results tot he Tokyo Exchange. This will avoid the delisting of the company from the stock exchange. Reuters reports: “The most recent restatement, for end-March 2011, showed a 51 billion yen ($655 million) reduction in Olympus’ net assets, and Olympus added that at of end-September, net assets stood at just 46 billion yen, down from a restated 225 billion in March 2007. It also revealed a net loss of 32.33 billion yen for the six months ended September 30, further fuelling talk that the once-venerable firm would need to take quick steps to shore up its balance sheet or risk becoming prey to a takeover.

Also Bloomberg (Click here) reports that: “Fujifilm, which makes equipment for medical scans, has been reported as a possible bidder for Japanese camera maker Olympus Corp. Yamamoto, who also is a board member at Fujifilm, declined to comment on a possible buyout of Olympus today. Fujifilm Chief Executive Officer Shigetaka Komori said last month it was too early to discuss Olympus issues while the third-party panel was still probing the fraud at the camera maker.

So Samsung, Hoya and now even Fuji could buy Olympus. Damn, this is going to be a tuff time for Olympus! I hope they will stay alive with their own force! I would prefer a Fuji-Olympus partnership over a Fuji Olympus takeover. Imagine a m43 camera with organic sensor 🙂 Yeah just dreaming I know 🙂

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  • If Woodford was re-instated, it looks like the camera division will be spared according to the last part of this article:
    http://www.reuters.com/article/2011/12/14/us-olympus-idUSTRE7BB04P20111214?feedType=RSS&feedName=topNews&rpc=71

    But then again, I don’t know if we should take his word for it. But glad to know that he addressed the topic that he “wouldn’t” sell the camera division.

    Edit:
    Oh and they talk of merging with partner to survive and not necessarily getting bought out. So a partnership would be nice. I want the “Olympus” brand to survive. It’s not the employee’s fault this happened to their company, it’s the directors. So I wouldn’t want anybody who is just a regular employee of Olympus gets affected nor gets looked down on just because they’re greedy directors couldn’t tell the truth.

    And I do happen to know very nice Olympus employees.

  • What extreme bias sensational tabloid reporting by Reuters they must have a hidden agenda.

    I HAVE LOST ALL RESPECT FOR REUTERS 🙁

    The acccounts show that Olympus have been trading in a solvent manner for the last 5 years.Olympus also assured investors it was able to secure continued funding for the future.

    btw
    Woodford hasn’t ruled out spinning out the camera/imaging division even though it may not be quite ready to stand on it’s own two feet.

    • > The acccounts show that Olympus have been trading in a solvent manner for the last 5 years.

      How that’s even possible? Value of company at any given moment of time is based on its past performance. If past performance figures were falsified, then the company essentially robbed the people who were investing in it, thinking that it had much greater value.

      > I HAVE LOST ALL RESPECT FOR REUTERS

      They are reporters. They have reported what others have said or did. If you do not like the facts and opinions, what it has to do with the Reuters?

      > Olympus also assured investors it was able to secure continued funding for the future.

      Unless the situation with BOD (and C*Os) is settled, I wonder who would give them money.

      • @ Dummy00001
        1. erm no it’s not based on past performance.
        2.I don’t see many facts or figures in the heading or 1st paragraph just sensational tabloid language, it’s being reported in a very different manner at the BBC and the FT.
        3. They know, you don’t…

      • Olympius

        PLEASE DON’T FEED THE TROLLS…..A.K.A. “YouDidntDidYou”

        I would think you all should know better by now….

        – Olympius

        • Jim

          He is no troll – he is just a very loyal oly user…. who is not realy comming to turms with what has happened very well.

        • Trevor

          +1

        • Carlos

          He’s not a troll per se, just trolling as a closedminded Oly fanboy who 1st denied that Oly did anything wrong, then decided time after time to SPIN the best possible predictions, news and outcomes for this terrible, sordid situation.

          • @Calos @Jim @Trevor
            never said Olympus haven’t done anything wrong just that it wasn’t as wrong as certain people made out.
            btw I shoot mostly Panny and Fuji

            What I thought were true has proven to be true:
            Axem where under Olympus control/influence
            There were “no worms to come out of the can”
            That Olympus wasn’t insolvent.
            That Wooodford was getting the wrong end of the stick.
            No Yakuza involvement.

            • ckb

              You are gullible.

              Not proven to be true:
              Axem where “was” under Olympus control/influence
              No Yakuza involvement
              There were “no worms to come out of the can”

              The auditor has stated “it could not completely confirm money flows”. That quote was for the last 3 years of the 5 years of restated statements. They do not even give an opinion on the other two years. These are rushed financial re-statements that are full of holes.

              Believe whatever fantasy you want but the company is in financial hell of their own doing. The only people who will them money now will be banks or capital partners that want to take it over.

      • BS Artiste

        The value of a company/asset/liability/property right/legal relationship is equal to the present value of expected (i.e., future) cash flows.

        There are 2 measures of insolvency: 1) not enough current cash inflows to meet the demand for current cash outflows and 2) negative net market value of owner’s equity (i.e., market value of liabilities > market value of assets).

        Situation 1 is normally the more pressing issue and is the reason for companies generally filing for bankruptcy (either reorganization or dissolution).

        • BS Artiste

          The property right of a share of stock is equal to the present value of expected future dividends and capital appreciation. Capital appreciation is also dependent on expected dividends. I am ignoring the taxation of dividends, which creates perverse behavior in companies to maintain excess cash (in addition to the perverse incentive to maintain excess cash and protect bad management as a result of anti-takeover laws).

  • gavinip

    Me too dreaming m43 with organic sensor~~

  • Ton

    I too will be happy if olympus will stand on their own. But if olympus camera division will necessarily be sold to someone, I sure do hope it is a deserving company with the same herritage & history of making cameras that will not disregard the brand name olympus & zuiko. But maybe, we m43 & x100 users will be happily affected if this turns out to be true.

    • stickytape

      x100 users may benefit. I don’t see Fuji continuing development of u43 as it competes with their own product. If anything, it’s the medical division that is attractive to potential buyers. As for the imaging division, whoever purchases
      Olympus may or may not make use of the patents that come into their possession.

  • MJr

    “Yamamoto, who also is a board member at Fujifilm, declined to comment on a possible buyout of Olympus today.”

    That means it’s true …
    Doesn’t mean they will end up doing it tho.
    But if anyone should, it’s them.

    • Carlos

      There’s nothing Oly has they Fuji needs, aside from the medical products business, so you’d better hope they AREN’T interested in Oly because if they are they’ll gut the camera division. Remember, Fuji took a look at making a 4/3 or m4/3 camera a couple of years ago then declined.

  • Exakta

    If Fuji is the one to takeover Oly, I just hope it doesn’t scrap either the Oly or Fuji brands. It’ll be kind of sad to see another brand disappear from the shelves. It if does maintain both brands then IMO Fuji is palatable to me – I cannot stand the thought of Oly being swallowed by the likes of Hoya, Samsung, Pana or other evil ones.

  • > So Samsung, Hoya and now even Fuji could buy Olympus.

    Admin, you forgot the elephant in the room: Canon.

    They too are interested in the Oly’s medical division.

    Actually, they were the first to be reported interested, but gave officially comments similar to Fuji’s now (aka “too early to talk about”).

    • Do

      Ironically, if Canon buys Olympus, chances could be higher they maintain the Olympus brand name for the mft products than they are with other buyers, because that would mean a much better solution to Canon’s “we’ll need to enter mirrorless market but we don’t want to rival our dslr line” dilemma than the nikon solution. Of course, i couldn’t see a future for the FT and compact camera lines in this case.

      • Jason

        As much as I hate to say it, I would think that Canon would love to buy Olympus at a bargain. Then they would not be left behind in the mirrorless race as they are right now…

  • Miroslav

    If Fuji kept the micro four thirds line alive, it would be great news. But with APS-C mirrorless waiting to be announced, one has to wonder what would happen to m4/3 Olys. If Fuji acquired Olympus imaging, they would have plenty of capacities to develop lenses for their new system, but they wouldn’t need the bodies.

  • P

    OLYMPUS ON IT’S OWN. Keeping my fingers crossed for Olympus! ♥

    http://www.olympusgrassroots.com/en/index.html

  • P

    Come on admin, start a petition for supporting Olympus!

  • kesztió

    You may say what you want, but Panasonic would be far the best buyer for Olympus , the only company who takes MFT as seroiusly as it’s possible.

    If Fuji had really interested of this system this interest would have been alreadly shown in a certain manner.

    • Vivek

      They should have done that years ago. They could have had access to Olympus’ brand name (as opposed to the little known Lumix) and do not have to rely on Leica so much.

      • stickytape

        Had Panasonic acquired Olympus years ago, we would not have the same degree of variety as we do today.

        Regarding the Olympus name, it would have made little difference considering Panasonic does not understand the importance of marketing.

    • Ahem

      On the other hand, Oly has a product line and has done the R&D on MFT. So it would be a relatively cheap and quick way for Fuji to enter the MFT market, rather than build their own MILC format, or to join with their own cameras.

  • Bob B.

    hmmmm….Fuji/Olympus could make sense….I tell you…if SOMEONE (company) could make a MFT sensor with just a little more dynamic range and truly better high ISO performance all the other mirrorless offerings would be academic with all of the lenses we have at our disposal.

    • YES! That would be amazing if that happened. Let’s hope so but I’m not keeping my fingers crossed. Although…when Sony is the #1 mirror less camera company hopefully that will put a fire under the a$$es of Panasonic and Olympus.

      I think by then I’ll have moved on to something Sony though.

  • Olympius

    Don’t mean to throw cold water on all your wet dreams about the a Fuji MFT system, which Fuji has already categorically rejected…but Fuji wants Olympus for that 85% of the business that has nothing to do with cameras, but makes all the money: medical devices.

    There isn’t a thing that Olympus does or have camera wise that Fuji can’t already do 10x better. And I say that as a long time fan of Olympus.

    – Olympius

    • Bob B.

      Fuji has rejected it for Fuji. …If Fuji acquires Oly…that could be a different story completely.
      I agree with your observations as to why Fuji would buy Oly. It has nothing to do with the camera division.

    • > […] Fuji can’t already do […]

      So why then they don’t do it already??

      As much as I do not like PENs, Fuji recent releases weren’t particularly spectacular. All the persisting QA issues of the X camera made me only to mark Fuji as a “no buy” brand.

    • Jason

      WRONG, they make better lenses, their PEN system is interchangeable whereas the X100 is not… Olympus does quite a bit better….

    • rogerml

      @ Olympius:
      ” – Don’t mean to throw cold water on all your wet dreams about the a Fuji MFT system, which Fuji has already categorically rejected…”.

      I wouldtn’t care to start in the London 2012 Olympics either, – as long as mr. Bolt is in the line up. He gone, for whatever reason, that might change my mind, . . . I could then figure different & see it as an well risked opportunity?

      Could that kind of reasoning explain Fuji’s ‘categorically’ (for that time) rejection? Just asking.

  • It makes a lot of sense. Fuji also makes gastro-cameras and colon cameras. Due to potentially dangerous polyps, I have to undergo a colon inspection every year, so I have been penetrated by both maker´s instruments :_( . Because I am sedated during the process, I can´t tell which I like better. The Olympus acquisition by Fuji, will be a hit for Fuji, making them the dominators of this most relevant Olympus dominated market.

    • admin

      That made my day 🙂

    • Jim

      lol – i guess it all depends on the size of sensor….. I reckon m43 would be better than APCS 🙂

      • DonTom

        In that case, I would suppose that a P&S size sensor would win mass market penetration?!!!

        • Jack

          Lol

  • Mark

    Perhaps if Olympus were to be bought out by Canon or Fuji, they might actually start putting some decent sensors in their cameras and stop selling cameras like their four thirds offerings which are at least two generations behind their competitors in performance and sensor quality.

    At least we now know where the money went that they weren’t spending on r+d!

  • 434343423

    oly is dead i told you that before… only a matter of time.

  • Bloomberg quotes Woodford saying that “while the company needs a capital injection, it should avoid an alliance and remain independent.”

    http://www.bloomberg.com/news/2011-12-14/olympus-meets-earnings-deadline-to-avoid-automatic-delisting-shares-drop.html

    It’s kind of logical for him to wish it or he wouldn’t be able to get back into the CEO position. But that also, I’m sure, matches the desires of most readers of the blog.

    I think it is the right time to cross the fingers and wish Woodford best of luck.

  • John R.

    A Fuji/Olympus partnership would be ideal for me too, an Olympus Camera with the Fuji sensor, and the great out of camera skin tones like my old Fuji S-Pro bodies… I would give almost anything for that.

  • Oitszek

    Fuji would be the best possible partner for olympus imo

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