BioTech

Japan's Olympus to buy back 5% stake from Sony

Credit: REUTERS/CARLO ALLEGRI

August 29, 2019 — 03:38 am EDT

Written by Reuters ->

TOKYO, Aug 29 (Reuters) - Japanese endoscope maker Olympus Corp 7733.T said on Thursday it will buy back 68.9 million shares, or a 5.03% stake, from Sony Corp 6758.T.

Sony bought 11.5% of Olympus in 2012, in a much-needed cash injection for the latter after an accounting scandal sent Olympus' share price plummeting. Sony later halved its stake to finance its own restructuring.

(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;))

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