News online: Olympus admitted to accounting frauds to cover its losses. Cooking of books to present rosy pictures. Using M&As as means to hide losses.
You don't see what is true. And what is true is not seen. Nothing is what it seems to be it is. That is why MBA students are asked to be so skeptical about any Financial Statement. Never believe it 100% Relate it to the performance of the company and reputation in industry circles. This is sad. Olympus was one of my favourite brands.
To know that they have missed the deadline for submission of Accounting details to the Tokyo Stock Exchange is alarming. It risks being de-listed. In any case, there is a real risk of bankruptcy and acquisition by another company.
Death of Olympus... This can not be good news... When giant trees start dying in the forest, it gives no hopes for the rest of the eco-system.
This blog documents my MBA student life at Ryerson University, Canada (2010-2012). It was an attempt to demystify the MBA experience, help understand MBA topics & encourage MBA wannabes. I have a Pre-MBA blog about B-School application process (and a few other blogs) as well. I used to blog actively in the past and interact with readers regularly, but life got very busy after my MBA. Good luck. Take care. Cheers! Gerry.
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