Olympus Corporation

In October 2011 Olympus dismissed its chief executive after he questioned advisory fees, and the company said the fees raised no problem^S1. On 8 November 2011 it admitted that acquisition payments had been used to cover up investment losses dating to the 1990s^S2^S3. A third-party committee reported in December 2011 that former executives had run a concealment scheme^S4^S5. In April 2012 Japan's securities watchdog recommended penalties for false securities reports^S9. In July 2013 the Tokyo District Court convicted the company and three former executives^S6^S7. In March 2016 the US Justice Department announced deferred prosecution agreements with two US subsidiaries worth about US$646 million in all^S8. The committee report itself could not be opened for this review.

Also known as: Olympus, Olympus Corp. of the Americas, Olympus Latin America Inc.
Headquarters: Japan
Records from: Japan, United States
Current status: Operating company headquartered in Tokyo. The Tokyo criminal case over the loss concealment ended at first instance in July 2013 with a JPY 700 million fine on the company and suspended prison terms for three former executives^S6^S7. Its US subsidiaries entered three-year deferred prosecution agreements with the US Justice Department on 1 March 2016^S8.

Scope. This record covers the loss concealment exposed in 2011 and the 2016 US kickback and FCPA resolution. It does not cover the camera business sold in 2021, later product safety matters or the 2024 departure of a chief executive.

Claims assessed

4 claims. Scores grade the evidence for each claim, not the organization.

Contradicted84
Olympus said in October 2011 that the advisory fees questioned by its dismissed chief executive raised no problem and that the company had done nothing wrong.
Company statement, 26 October 20116 records citedAccounting
Supported74
A third-party committee appointed by Olympus reported in December 2011 that former executives had concealed investment losses and that the management was rotten to the core.
Press report, 6 December 20114 records citedAccounting
Supported76
Press reports in July 2013 said the Tokyo District Court convicted Olympus and three former executives over falsified financial statements and gave the executives suspended prison terms.
Press report, 4 July 20133 records citedAccounting
Supported82
The US Justice Department said in March 2016 that Olympus Corp. of the Americas would pay US$623.2 million to resolve kickback charges and claims, and that its Latin America unit would pay US$22.8 million over foreign bribery.
Regulator statement, 1 March 20163 records citedBribery

Cases and proceedings

Public prosecutors v. Olympus Corporation and three former executivesTokyo District Court. Criminal. Not published.Stage: First instance verdict on 3 July 2013 after guilty pleas. No appeal found in the sources read.
- 3 July 2013 Company fined JPY 700 million. Three former executives given suspended prison terms^S6^S7
Securities and Exchange Surveillance Commission in relation to Olympus CorporationSecurities and Exchange Surveillance Commission, Japan. Regulatory. Not published.Stage: Recommendation of administrative monetary penalties made on 13 April 2012. The final penalty order was not read for this review.
- 13 April 2012 Recommendation of administrative monetary penalties of JPY 191,819,994 for false statements in securities reports^S9
United States v. Olympus Corp. of the Americas, and United States v. Olympus Latin America Inc.US District Court for the District of New Jersey. Criminal. Not published.Stage: Three-year deferred prosecution agreements announced on 1 March 2016. Later disposition not reviewed.
- 1 March 2016 Agreements announced with penalties and a civil settlement totalling about US$646 million^S8

Responses on record

Olympus Corporation, 26 October 2011, on Olympus said in October 2011 that the advisory fees questioned by its dismissed chief exec...
Olympus said the dismissed chief executive failed to understand its management style and Japanese culture.^S1
Olympus Corporation, 8 November 2011, on Olympus said in October 2011 that the advisory fees questioned by its dismissed chief exec...
The president said he had been unaware of the facts and that earlier presentations were mistaken.^S3

Revision history

25 October 2026 Profile and 4 assessments first published. Records checked to 25 October 2026.

Source records

S6Tier C Ex-Olympus executives sentenced for fraudCNN Money. Press report. Not shown on the page. URL dated 3 July 2013.Reports the sentences, the fine and the presiding judge. No byline is shown. It does not give the date of the guilty pleas.
S7Tier C Olympus trio escape jail but firm fined £4.6 MEEELIONThe Register. Press report. 4 July 2013.Report by Phil Muncaster on the guilty pleas, suspended terms and fine. It does not cover any appeal.Link working, checked 25 October 2026
S9Tier A Recommendation in relation to false statements in annual securities reports, etc. of Olympus CorporationSecurities and Exchange Surveillance Commission, Japan. Regulator press release. 13 April 2012.The securities regulator's watchdog recommended administrative monetary penalties of JPY 191,819,994 for false statements that overstated consolidated net assets. It is a recommendation, not the final penalty order, and it does not cover the criminal case.Link working, checked 25 October 2026
S8Tier A Medical Equipment Company Will Pay $646 Million for Making Illegal Payments to Doctors and Hospitals in United States and Latin AmericaUS Department of Justice. Regulator press release. 1 March 2016.Supports the charges, the deferred prosecution agreements and the amounts for the two US subsidiaries. It does not cover the Tokyo parent or later disposition.Link working, checked 25 October 2026
S1Tier C Olympus head quits amid takeover-fees scandalChina Daily. Press report. 26 October 2011.Report based on Reuters, with no named reporter. Records the October 2011 company position on the fees and the dismissal. It does not establish whether the fees were proper.
S3Tier C Olympus admits it hid losses for decadesChannel 4 News. Press report. 8 November 2011.Quotes the president on the admission. It gives no byline and does not quote the earlier denials.Link working, checked 25 October 2026
S2Tier C Japanese giant Olympus admits cover-upAl Jazeera. Press report. 8 November 2011.Agency report of the company's admission that payments hid investment losses. It does not quote the company release in full.Link working, checked 25 October 2026
S4Tier C Panel clears Olympus of organised crime linksAl Jazeera. Press report. 6 December 2011.Agency report on the third-party committee findings, including the 1998 scheme and the lack of organised crime evidence. It is not the report itself.Link working, checked 25 October 2026
S5Tier C Title not shown on the archived pageCNN. Press report. Not shown on the page. URL dated 6 December 2011.Quotes the committee report on management. The page shows no title, date or reporter byline, only a contributing freelance producer.Link working, checked 25 October 2026