The Japanese camera company that admitted in 2011 that it had hidden investment losses for years was Olympus.
The scandal became public after Olympus dismissed British chief executive Michael Woodford in October 2011, only weeks after he challenged unusual advisory payments and acquisitions. Investigators found that the company had used acquisitions and related transactions to conceal losses dating back to the 1990s.
Olympus later acknowledged that it had concealed roughly ¥117.7 billion in losses. Several former executives were charged, and the scandal damaged confidence in Japanese corporate governance.
The case is often remembered because Woodford became the first non-Japanese president and chief executive of Olympus, and because his questions triggered the public investigation.