In abrupt turnaround, Olympus admits hid losses for decades=2
into cameras in the 1930s and two decades later expanded into gastrocameras, which became its mainstay profit earner as its endoscopes captured 70 percent of the global market.
Some market players said Tuesday's disclosure could mean the worst of the news was over.
"But there are still investors who won't take chances and will continue to sell their holdings so the company could fall to its book value, after which it could be a potential acquisition target," said Fujio Ando, senior managing director at Chibagin Asset Management. ($1=78.0 yen) (Additional reporting by Chikafumi Hodo, Tim Kelly, Lisa Twaronite, Antoni Slodkowski: Writing by Linda Sieg; Editing by Edmund Klamann, Dean Yates and Neil Fullick)