Scandal-hit Olympus Corp. announced a five-year plan on June 8 to “make a fresh start” and regain credibility with its stakeholders.
The troubled optical equipment maker, which is struggling to recover from a massive accounting fraud, expressed “regret for our past misconduct” and said it would try to return to the basic values that existed when Olympus was first established.
The company will redefine its core businesses into three main categories: medical business; life sciences and industrial applications; and imaging.
“This will enable us to abandon our previous excessive emphasis on sales, comprehensively review our cost structures and achieve growth with profitability, while pursuing efficiency,” Olympus said in a statement.
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