Panasonic secure equity bid in Olympus Corp

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According to reports from an Asian news agency, Panasonic is said to have secured an equity stake in Olympus Corp to the tune of $635 million, after the investment loss scandel that wiped millions off the share price of the camera and endoscope maker earlier in the year. The company already supplies Olympus with sensors in the PEN and OM-D series cameras but, while this may bolster the camera divisions of both companies, the report concludes Panasonic is looking to enter the lucrative medical instruments and healthcare industry after falling profits. An additional report states Olympus is set to announce up to 2,500 lay-offs from the loss-making camera division later this week.

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