Olympus Corp. will not be kicked off the Tokyo Stock Exchange, but the camera and medical device maker must pay a fine for covering up massive losses with false accounting, exchange officials said Friday.
Olympus will be monitored by the exchange as a security on "Alert" because significant improvements must be made in its internal control systems, it said in an emailed statement.
Olympus faced removal from the stock exchange following revelations of a scheme by the Tokyo-based company to hide 117.7 billion yen ($1.5 billion) in investment losses dating back to the 1990s. (AP)
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