Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Olympus Fee Inquiry Centered on Two Japanese Bankers, Hajime Sagawa and Akio Nakagawa

Hajime Sagawa and Akio Nakagawa, two Japanese bankers, are at the center of what the New York Times calls “a growing firestorm over a mysterious $687 million payout by Olympus, the Japanese company that runs a lucrative medical equipment business and a less successful, if better known, digital camera business.”

Olympus Mystery Fee

The New York Times reports “the money has been described as a fee for advising Olympus on the 2008 takeover of a British company, the Gyrus Group….But the fee amount was more than 30 times the norm on Wall Street.”  After the transaction, part of the fee went to a small firm owned by Hajime Sagawa and Akio Nakagawa according to the public records. The rest of the fee went to a Cayman Islands company that has “ties to at least one of the men.” Both firms closed as soon as the fees were paid.

Questions at Olympus

The FBI is reportedly investigating the large fee. Yoshiaki Yamada, a spokesman for Olympus in Tokyo, said “We are not aware of any investigation.” However, shareholders and analysts are demanding answers. While Olympus has said, “its payments were appropriate,” it announced Friday that it would set up a panel to examine past payments. Olympus is also facing accusations that it fired CEO Michael C. Woodford because he planned to expose the fees. The New York Times reports, “Many analysts have suspended their outlook for Olympus, saying the company’s future had been thrown into disarray by the seriousness of the matter.”

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!