Terumo Corp. has filed a lawsuit against Olympus Corp. over a fall in the value of its holdings of Olympus shares because of the optical equipment maker’s huge loss coverup scandal.
Terumo, a medical equipment maker, did not say how much it is demanding in damages, but the figure is believed to be in the billions of yen. The suit was filed in the Tokyo District Court, Terumo said Tuesday.
Olympus share prices plummeted after the coverup came to light. Terumo holds 2.1 percent of Olympus shares.
Terumo has proposed investing ¥50 billion in Olympus and integrating the two firms’ operations via a joint holding company.