Olympus Corp. President Shuichi Takayama said Tuesday the company concealed huge losses on securities investments since the 1990s and used recent acquisitions of Gyrus Group PLC and three Japanese companies to cover the off-the-book losses.
The revelation means that the Tokyo-based camera and medical equipment maker may have falsified financial documents for years.
The Tokyo Stock Exchange is investigating to determine if the firm should be delisted.
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