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Scandal-hit Olympus back in profit

  • Olympus returned to profit in the six months to the end of September as the firm recovered from an accounting scandal.

    The camera and medical equipment maker reported net profit of $101 million on Monday, compared with a loss of $403 million in the same period last year.

    The profit partly came on the back of the sale of some subsidiaries.

    Its medical systems unit also made a profit while the camera business made a loss due to a strong yen and the growing popularity of camera-equipped smartphones.

    In November 2011, Olympus admitted to hiding losses worth billions of yen in one of the biggest corporate scandals to his Japan.