Industry News: Sony Sells Its Stake in Olympus
After an accounting scandal led to the arrest of former Olympus president Tsuyoshi Kikukawa, Sony stepped in with financial aid, acquiring an 11.5-percent stake in Olympus for 50 billion yen ($47 million at today’s rate) in 2012-13, notes DIY Photography. Sony has since sold off some of those shares, and now, reports DP Review, it has sold it’s remaining 5 percent, after declaring the alliance between the two companies has achieved what it set out to do. Sony also made a tidy profit.
Read the whole story at DP Review.

