☰

Telecomunicaciones y tecnología

Olympus shares drop 19.6 percent after accounts restated


    TOKYO (Reuters) - Shares of Olympus tumbled as much as 19.6 percent on Thursday, a day after the company restated financial accounts after a 13-year fraud, with a dent in its balance sheet triggering speculation it will need to raise capital to repair its finances.

    The company's most recent restatement, for end-June 2011, showed an 84 billion yen ($1.08 billion) reduction in net assets. OLYMPUS (JP7733.TK)added that as of end-September, its net assets were just 46 billion yen, down from a restated 225 billion yen in March 2007.

    It also revealed a net loss of 32.33 billion yen for the six months to end-September.

    Olympus shares were down 13 percent at 1,142 yen, after falling as low as 1,056 yen. Its shares have lost more than half their value since the scandal erupted in mid-October.

    (Reporting by Lisa Twaronite; Editing by Chris Gallagher)