Olympus To Face Back Taxes Of $62.60 Million

Posted on Jul 4 2012 - 5:54am by Editorial Staff

Although Olympus hit quite high with scandal earlier, there is something more bigly to come: The Nikkei Business Daily reports that the Tokyo Regional Taxation Bureau seeking 5 billion yen ($62.60 million) in back taxes and penalties from Olympus stemming from its acquisition of Gyrus Group deal back in 2008. The company recently planned staff reductions of over 2,700 employees with Sony’s investment move will help company to try again to put its foot more stronger this time while Sony and Panasonic comes forward to help the company by funding with $623 million and $635 million respectively. We expect a lot more to come for the company, but as we do always, will keep an eye on it and update accordingly.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.