Cempaka Asean: Olympus admits hiding losses for 20 years

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - Text version)

“….. Here is the prediction: China will turn North Korea loose soon. The alliance will dissolve, or become stale. There will be political upheaval in China. Not a coup and not a revolution. Within the inner circles of that which you call Chinese politics, there will be a re-evaluation of goals and monetary policy. Eventually, you will see a break with North Korea, allowing still another dictator to fall and unification to occur with the south. ….”

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Tuesday, November 8, 2011

Olympus admits hiding losses for 20 years

guardian.co.uk, Alex Hawkes, Tuesday 8 November 2011

Olympus president Shuichi Takayama at the news conference. He told reporters
'I was absolutely unaware of the facts I am now explaining to you. The previous
presentations were mistaken' Photograph: Toru Hanai/Reuters

• Shares down 70% in last month

• Vice-president to be dismissed

• Company's future in doubt

• British ex-boss calls for board to resign

Shares in scandal-hit Japanese camera-maker Olympus tumbled 30% in Tokyo after the company admitted it had been hiding losses going back more than twenty years, and sacked its vice president.

The firm may consider criminal complaints against former executives, it added. The company's shares have lost 70% of their value in the last month after British ex-CEO Michael Woodford blew the whistle on questionable fees paid as part of M&A transactions.

Olympus said on Tuesday that acquisitions had been used to cover up losses on bad investments. The company said it had been deferring losses since before the 1990s.

The revelations could leave the company open to criminal charges for suspected accounting fraud, as well as shareholder lawsuits, putting its future in doubt.

"This is very serious. Olympus admitted it has made false entries to cover its losses for 20 years. All people involved in this over 20 years would be responsible. There is a serious danger that Olympus shares will be delisted. The future of the company is extremely dark," Ryosuke Okasaki, chief investment officer at ITC investment partners, told Reuters.

Vice-president Hisashi Mori will be dismissed, the company said. President Shuichi Takayama said former president and chairman Tsuyoshi Kikukawa, Mori and auditor Hideo Yamada were responsible for the suspect transactions.

"I was absolutely unaware of the facts I am now explaining to you. The previous presentations were mistaken," Takayama told reporters.

Woodford was sacked on 14 October after questioning huge payments made as part of M&A transactions. In one case, the acquisition of British medical equipment maker Gyrus, the advisory fee of $687m (£430m) was equivalent to a third of the total consideration paid. The purchase was one of those used to hide long-standing investment losses, Olympus said on Tuesday.

Woodford said this morning that the Olympus board should resign. "The position of the board and non-execs is untenable now."

A panel of six, including a former Japanese supreme court justice, is examining Olympus's past deals.

Separately, Reuters named a Japanese banker based in the US as a key figure related to the Gyrus transaction. Akio Nakagawa worked for the New York-based firm that won the fee, and has had dealings with Olympus for three decades, the news agency reported.

Related Articles:

Analysis: Olympus scandal puts auditors under scrutiny

Japan police move on Olympus as investors demand clean-out

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Tuesday, November 8, 2011

Olympus admits hiding losses for 20 years

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