Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  Olympus Corp    7733   JP3201200007

OLYMPUS CORP

(7733)
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Olympus : Under reorganization, Olympus elevates several Center Valley executives to global roles

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/11/2019 | 02:04pm EDT

Jan. 11--Olympus Corp. of Japan is undergoing some changes, aiming to drive cost savings and generate growth through the strong U.S. market for medical devices.

That point was reinforced Friday, when the company announced it was elevating several executives at Olympus Corp. of the Americas in Center Valley to senior-level global roles.

That includes Nacho Abia, president and CEO of Olympus Corp. of the Americas. Abia will keep that position but also assume the role of co-head of the newly created Therapeutic Solutions division. Abia also will be responsible for global business development across the medical, scientific and imaging units of Olympus.

In addition, Richard Lebitz, the executive director of internal audit for Olympus Corp. of the Americas, has been appointed to serve as the global chief internal audit officer of Olympus. Lastly, Mark Miller, Olympus Corp. of the Americas' vice president of corporate and medical communications, will serve as the company's global chief communications officer and the regional head of communications for the Americas.

The three promotions are effective April 1. Abia, Lebitz and Miller will remain based in Center Valley.

"My colleagues and I are delighted to assume our new global roles within Olympus, which continues to adapt to meet the needs of the rapidly changing international markets," Abia said in a statement.

"In our new positions, we look forward to leveraging the experience and expertise we have developed at Olympus Corp. of the Americas in order to support Olympus' worldwide growth and to execute the company's increasingly global vision."

News of the promotions came a day after Olympus announced a "comprehensive transformation program to continue its development as a global medical technology company and drive improved performance, accelerating value creation for all stakeholders."

The nearly 100-year-old company also is nominating three new board members, including D. Robert Hale, a partner at U.S. hedge fund ValueAct Capital. ValueAct, Olympus' largest shareholder, began building a stake in the company more than a year ago, Reuters reported.

Further, Olympus Vice President and Chief Financial Officer Yasuo Takeuchi will be named company president and CEO. Current President Hiroyuki Sasa will transition to board director, as of April 1.

One major part of the reorganization is the simplification of Olympus' medical device business from five parts into two global divisions: Endoscopic Solutions and Therapeutic Solutions.

The Endoscopic Solutions division, a leader in endoscopes, will continue to be managed from Japan.

But the Therapeutic Solutions unit will be managed from the United States by Abia and fellow co-head Tomohisa "Tomo" Sakurai, who moved from Tokyo to Center Valley in the fall.

That allows the division, which consists of single-use therapeutic devices for the gastrointestinal and respiratory fields, along with urology, gynecology and ear, nose and throat products, to be located in the largest therapeutic device market with better access to customers.

Olympus Corp. of the Americas, which relocated from Long Island, N.Y., to Center Valley in 2006, has about 1,000 employees across two Lehigh Valley facilities.

The company's Center Valley headquarters handles sales, marketing, management and support services for North and South America, and Olympus also has a distribution center in Breinigsville.

jon.harris@mcall.com

610-820-6779

Get the inside scoop on the Lehigh Valley's business scene on The Business Cycle: themorningcall.com/business

Like on Facebook: facebook.com/LVBizCycle

Follow on Twitter: @LVBizCycle

___

(c)2019 The Morning Call (Allentown, Pa.)

Visit The Morning Call (Allentown, Pa.) at www.mcall.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

Stocks mentioned in the article
ChangeLast1st jan.
OLYMPUS CORP 3.44% 1204 End-of-day quote.-63.52%
THERAPEUTIC SOLUTIONS INTERNATIONAL INC 17.65% 0.002 Delayed Quote.-63.64%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OLYMPUS CORP
06/24For Japan Inc, discretion is the better part of activist valour
RE
06/20Olympus to ramp up efforts in China
AQ
06/14PATRICK THOMAS : Activist Wants Sony to Spin Off Semiconductors -- WSJ
DJ
06/14Hedge fund Third Point calls on Sony to spin off semiconductor unit
RE
05/14Toshiba Taps Foreigners for Board -- WSJ
DJ
04/18OLYMPUS : Activists Lower Noise in Japan
DJ
04/08Smart Healthcare Products Market to Touch Mark a Growth of USD 69.68 Billion ..
AQ
03/27OLYMPUS CORP : Ex-dividend day for final dividend
FA
03/27OLYMPUS CORP : SPLIT: 4 of 1
FA
03/11OLYMPUS : whistleblower Woodford wins London pensions lawsuit
RE
More news
Financials (JPY)
Sales 2020 809 B
EBIT 2020 95 661 M
Net income 2020 65 888 M
Debt 2020 15 565 M
Yield 2020 0,82%
P/E ratio 2020 24,4x
P/E ratio 2021 20,8x
EV / Sales2020 2,06x
EV / Sales2021 1,89x
Capitalization 1 651 B
Chart OLYMPUS CORP
Duration : Period :
Olympus Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OLYMPUS CORP
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 1 385,00  JPY
Last Close Price 1 204,00  JPY
Spread / Highest target 41,2%
Spread / Average Target 15,0%
Spread / Lowest Target -23,2%
EPS Revisions
Managers
NameTitle
Hiroyuki Sasa Executive President & Representative Director
Yasuo Takeuchi Chief Financial Officer, Director & Executive VP
Haruo Ogawa Director & Chief Technology Officer
Akihiro Taguchi Director, Manager-Sales & Marketing
Sumitaka Fujita Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
OLYMPUS CORP-63.52%15 321
THERMO FISHER SCIENTIFIC31.25%115 923
DANAHER CORPORATION38.67%101 586
INTUITIVE SURGICAL10.42%61 050
BOSTON SCIENTIFIC CORPORATION20.66%58 755
ILLUMINA-2.24%43 100