It has been recently revealed in a report that there has been the arrest of Tsuyoshi Kikukawa, the ex-chairman of Olympus Corp., together with four others. This arrest has been done in relation to the recent suspected violation case of the Financial Instruments and Exchange Act from Japan.

The camera making company is actually under the brunt of lawsuits being made by the shareholders of the company. There is need for further criminal investigation to be done in the matter before there can be a final outcome revealed about the same. It was said that the revenue of the firm has received a hike of 82% to have became the humongous 847 billion yen right now.

The past securities by the firm have been restated, and there was even a reduction in the assets that amounted to $1.3 billion in the month of December.

Olympus’s case “is getting more attention from foreign media than Japanese,” “Looking at their articles make me concerned that it would lead to a view that Japanese corporate governance overall is weak”, said Toshiyuki Shiga, the Chief Operating Officer of Nissan Motor Co.

There is a need for detailed investigation to be done in the matter in order to find out how big the entire racket is, and how many people might be involved in the same. There is a need for solving the case as soon as possible so that the name of the reputed company doesn’t suffer any more harm.

It has further been revealed that there is going to be an emergency meeting for the shareholders on April 20. This shall tend to reveal new insight about the matter in concern and tend to give effective solutions for the same as well.