Olympus bought face cream company(!) to help hide investment losses!!!

Discussion in 'Digital Photography' started by RichA, Nov 8, 2011.

  1. RichA

    RichA Guest

    New York Times:

    http://www.nytimes.com/2011/11/08/b...ing-losses-in-big-merger-payouts.html?_r=4&hp

    Olympus also acquired three small companies in Japan for a total of
    $773 million, only to write down most of their value within the same
    fiscal year. Those companies — Altis, a medical waste recycling
    company, Humalabo, a facial cream maker, and News Chef, which makes
    plastic containers — had little in common with Olympus’s main line of
    business of producing cameras and other electronics. Those businesses
    had not made money before being acquired, according to the credit
    ratings agency Tokyo Shoko Research.
     
    RichA, Nov 8, 2011
    #1
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