Olympus, the scandal-hit Japanese camera maker, sought to reassure investors over its balance sheet after acknowledging that false accounting reports it submitted last year had put it in violation of loan agreements with its banks.
“We are in talks with our creditors over the continued provision of these loans, and at this stage we believe that they will continue to provide support,” Olympussaid in a statement yesterday.
It said it had broken the conditions of banking covenants covering Y320bn ($4.1bn) of long-term loans, or about half its interest-bearing debt.
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