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When its CEO learnt of its financial losses, he went on a collision course with the board. Inside the Storm looks at what went wrong and how Olympus recovered...
He was a very charismatic person, very well liked.
He was a very charming man. He talked to me about my family, and he knew them all by name. And then he said he had been running the company for 10 years (and) didn't think he had changed it enough.
If you've worked in a company for 30 years, you'd feel a very close affinity with that company.
He was worried that he was in danger, that people might be following him or worse.
If you ask me whether the fees were proper or not, I'd say that the situation would've warranted those fees, and thus they were appropriate.
The Olympus case did for Japan what Enron did for the United States. So every time you have a scandal, policymakers, shareholders and the board will question the way business was always done and whether it should be done this way.
Six years on, it still has a big share of the market in endoscopy and microscopy. And it's doing very well in its camera business.