Olympus, one of the most famous optical instrument makers in Japan, seems to go into collapse very soon. The management staff has made a big amount of debts due to failure in investment in 1980s. It is reported up to 2 billion USD. The following staff responsible for the finance has done so called "Tobashi" technique in financial affairs in order to hide the debts for the past years. A new president of the company, a foreigner, has noticed that illegal conduct by the former management staff. It has been eventually made public recently.
This is a really shameful crime and should never has occurred by any means. The staff as well as the auditor should be accused and should compensate the loss as much as possible. I often hear from the doctors specializing endoscopy that Olympus personel used to be with aggressive attitude in selling and maintaining their apparatus. They have shared 75 % of the market in Japan. This aggressiveness may have reflected the difficult finance of the company. The company should be sold to another, which would enable the fair competetion in the market.
I could not help remembering the age of '80s. It was the time when I worked as a young staff in a med school hospital, where my colleague etc used to boast of the profits gained in their investments. It was really an age of bubble economy. Everyone was behaving at the mercy of the bubble economy even though they thought they had made investments with reason. I believe the management staff of Olymus those days must not has been an exception, even though they have made too much gamble without reason. I bitterly recall tha fact that the bubble economy has never made most of the people happier at all. Again, we are facing to the result of the bubble economy in addition to the serious credit failure in the financial system. Knowing what has been going on in this company falling down, I think we should overcome the bubble economy cycle repeated since '80s by some means.