Olympus stock listed as “Security under Supervision”

The TSE Enforcement Rules for Securities Listing Regulations stipulate that the listed stock may be designated as an ”Security under Supervision (Confirmation)” if it does not file its financial reports by the due date. If the company does not submit the quarterly report within one month of the submission deadline ( up to December 14, 2011), stocks of Olympus Corporation will be delisted from the Tokyo stock exchange. TSE has informed investors of the possibility of a delisting.

Olympus had announced that it will receive the reports of the Third Party Committee investigating in the doubtful financial transactions that have shattered the company during the recent weeks before confirming the appropriateness of the 2nd quarter report for the current fiscal year.

Separately, Olympus Corporation has announced that the corporate auditors of the company received a written request by a shareholder to file legal action pursuing the liabilities of certain company officers and ex-officers towards the company. The shareholder requests to examine the existance of breaches of duty by 21 imcumbent and former directors elected for the company office since 2006. In case such breaches of duties exist, the shareholder requests legal action against such imcumbent and former directors for their liabilities towards the company to the principle amount of Yen 139,419 million (Euro 1.313 billion/US-$ 1.8 million).