Bloomberg News

Olympus Rises After Report of Plan to Cut Debt

November 17, 2011

(Corrects to say company plans to cut debt by 260 billion yen.)

Nov. 17 (Bloomberg) -- Olympus Corp. rose as much as 8.8 percent in Tokyo trading after the Nikkei newspaper reported the company told creditors it plans to cut debt by 260 billion yen over three years.

Olympus traded 6.9 percent higher at 791 yen as of 9:22 a.m. on the Tokyo Stock Exchange. The benchmark Nikkei 225 Stock Average slid 0.7 per1cent.

Shares in the endoscope maker rose 61 percent over the past three days, paring losses made after Michael Woodford was dismissed as president in October.

--Editor: Kyung Bok Cho

To contact the reporter on this story: Gearoid Reidy in Tokyo at greidy1@bloomberg.net

To contact the editor responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net


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