Olympus – What’s Going On? The Letter, Some Information, But Few Explanations

Everyone has probably seen the letter sent by Mr. Woodford to Chairman Kikukawa on October 11, soon before the former was summarily fired as Representative Director (but of course, he is still a director at present). But for those who have not read it, here it is:

http://graphics8.nytimes.com/packages/pdf/business/20111018/letter-text.pdf

A the same time, Neojapanisme blog has collected a bunch of data and links on some ofthe players, worthreading for those following this confusing story:

http://bit.ly/ofYJEJ

http://neojaponisme.com/2011/10/23/a-guide-to-the-olympus-mysteries/

Jake Adelstein wrote this interesting piece, with his special perspective:

http://www.japansubculture.com/2011/10/olympus-bringing-it-into-focus-a-special-breach-of-trust/

Here is Olympus' English Annual Report. The section on corporate governance is pages 26-7:

http://www.olympus-global.com/en/corc/ir/annualreport/2011/pdf/ar2011.pdf

The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.

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