May 10, 2012 - 12:53 AMT
Olympus reports $620 million loss

Olympus on Thursday, May 10, posted a $620 million loss in the fiscal year to March after a cover-up scandal at the camera and medical equipment maker which hammered Japan's corporate-governance image.

The firm said it lost 48.99 billion yen ($620 million) in the period, after a scandal that sparked lawsuits and the arrest of former executives accused of hiding about $1.7 billion in losses, AFP reported.