Olympus Corp. may liquidate three unlisted domestic subsidiaries whose acquisitions were used to cover up massive investment losses, sources said.
Health food and cosmetics firm Humalabo Co., industrial waste disposal company Altis Co. and cooking container maker News Chef Inc. "are dragging down (Olympus') business performance and have created no beneficial synergies with its core business," an Olympus source said.
Olympus bought the three firms in 2008 for a total of ¥73.4 billion — an inflated price that substantially overvalued them.