Former Olympus CEO Michael Woodford
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Olympus submits earnings to try to avoid delisting

Japan's scandal-hit camera maker Olympus has filed corrected earnings reports to try to avoid being delisted from the Tokyo Stock Exchange.

Five years' worth of reports were accepted by financial regulators three hours before the deadline.

Olympus was asked to refile its earnings because of deceptions and accounting irregularities.

Auditors signed off on the reports with qualified opinions, saying they could not confirm all the money flows.

"We were unable to get sufficient and appropriate proofs for auditing on specific assets and amounts," said accountants KPMG AZSA.

Brian Milligan reports.

  • 14 Dec 2011
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