Reuters: Technology News: Olympus profit slumps 60 percent, shareholders' equity drops

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Olympus profit slumps 60 percent, shareholders' equity drops Aug 9th 2012, 06:44 Tweet Share this Email Print Related News Hopes dim for Sharp amid Japan's TV industry sunset Fri, Aug 3 2012 Japan's Renesas expects worst-ever annual loss of $1.9 billion Thu, Aug 2 2012 Olympus stock slides on possible fresh wrongdoing Wed, Aug 1 2012 Nikkei logs worst July performance in five years Tue, Jul 31 2012 Terumo's proposal intensifies race for Olympus tie-up Thu, Jul 26 2012 Analysis & Opinion Nomura resignations pave way for the Lehman unwind A man passes behind a logo of Japan's Olympus Corp at the company headquarters in Tokyo June 19, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Thu Aug 9, 2012 2:44am EDT TOKYO (Reuters) - Olympus Corp reported a 60 percent fall in quarterly operating profit and a deterioration in a key barometer of its ability to meet financial obligations, adding pressure on the scandal-hit Japanese company to enter into a capital deal. For the April-to-June quarter, operating profit was 2.12 billion yen ($27.05 million), the company said on Thursday. Shareholders' equity fell to 2.2 percent of total assets. The drop in the shareholders' equity ratio from 4.6 percent in March further pushes Olympus away from the 20 percent level widely regarded by analysts as indicative of corporate financial stability. The 93-year-old manufacturer of cameras and medical equipment, has been in talks with several Japanese companies including FujiFilm Holdings on a capital tie-up as it tries to mend its severely depleted balance sheet hit by a massive accounting scandal last year. ($1 = 78.3600 Japanese yen) (Reporting by Mari Saito; Editing by Ryan Woo) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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