Olympus Corporation

Olympus Corporation
Name	Olympus Corporation
Type	Public
Traded as	TYO: 7733
Industry	Precision instrument manufacturing, Medical devices, Scientific instruments
Founded	12 October 1919 in Shinjuku, Tokyo, Japan
Founder	Takeshi Yamashita
Hq location city	Shinjuku, Tokyo
Hq location country	Japan
Key people	Yasuo Takeuchi (President and CEO)
Products	Endoscopes, Microscopes, Digital cameras, Voice recorders
Revenue	▲ ¥847.1 billion (FY 2022)
Num employees	31,667 (2022)

Contents

History
Products and services
Corporate affairs
Financial performance
Controversies and legal issues
See also

Olympus Corporation. Founded in 1919, it is a global leader in the design and manufacture of precision instruments, most notably for the medical device and life sciences industries. The company is best known for its pioneering work in gastroenterology and its dominant global market share in endoscopes, as well as its historic contributions to photography and microscopy. Headquartered in Shinjuku, Tokyo, it is a constituent of the Nikkei 225 stock index and maintains a significant operational presence worldwide.

History

The company was established on October 12, 1919, in Shinjuku by Takeshi Yamashita under the name Takachiho Seisakusho, initially focusing on microscope manufacturing. A pivotal early achievement was the 1920 launch of its first microscope, the "Asahi". The Olympus brand name was adopted in 1921, inspired by Mount Olympus in Greek mythology. A major breakthrough came in 1950 with the invention of the world's first practical gastrocamera, laying the foundation for its future dominance in endoscopy. The company entered the consumer photography market, becoming famous for the Olympus PEN series and the revolutionary Olympus OM system of SLR cameras. Significant corporate evolution included a name change to Olympus Optical Co., Ltd. in 1949 and the adoption of its current name, Olympus Corporation, in 2003.

Products and services

The company's operations are divided into two main segments: Medical and Scientific Solutions. The Medical segment, which generates the majority of revenue, specializes in endoscopic systems, including video gastroscopes, colonoscopes, and surgical endoscopes, alongside related surgical energy devices. The Scientific Solutions segment manufactures a wide range of industrial microscopes and research microscopes for applications in life science, semiconductor inspection, and material science. Historically significant products from its former Imaging Systems Division include the Olympus XA, the Olympus µ[mju: series, and the Four Thirds System-based Olympus E series of digital SLR cameras, though it sold this business to Japan Industrial Partners in 2020.

Corporate affairs

The global headquarters are located in Shinjuku, Tokyo. The company is led by President and CEO Yasuo Takeuchi and is governed by a board of directors. Its business is structured regionally, with major subsidiaries including Olympus America Inc. in the United States, Olympus Europa SE & Co. KG in Germany, and Olympus Medical Systems Corporation in Japan. It maintains extensive research and development facilities, such as the Olympus R&D Center in Hachioji, Tokyo, and has engaged in strategic partnerships with entities like Sony, which became its largest shareholder in 2021. The company is a member of the Japan Business Federation (Keidanren).

Financial performance

For the fiscal year ending March 2023, the company reported consolidated net sales of ¥847.1 billion, with the Medical segment contributing approximately 78% of total revenue. Operating income was ¥121.8 billion, reflecting strong profitability in its core medical business. The company's shares are listed on the Tokyo Stock Exchange (TYO: 7733) and it is a component of the Nikkei 225 and TOPIX indices. Major institutional shareholders include Sony Group Corporation, BlackRock, and The Vanguard Group.

Controversies and legal issues

The company was embroiled in one of Japan's largest corporate scandals, the Olympus scandal, which came to light in 2011. It was revealed that executives, including former president Tsuyoshi Kikukawa, had concealed massive investment losses dating back to the 1990s through a series of fraudulent acquisitions, such as the purchase of Gyrus Group and Altis Co.. This led to arrests, criminal charges, and a record ¥1.4 billion fine from the Tokyo District Court. The company and its United States subsidiary, Olympus Corporation of the Americas, have also faced significant litigation and settlements, including a $646 million resolution with the U.S. Department of Justice in 2016 over violations of the Foreign Corrupt Practices Act related to kickbacks in Latin America and the United States.