Scandal-hit Olympus Corp. has avoided delisting from the Tokyo Stock Exchange in yet another decision that raises questions about the bourse's criteria and invites further investor mistrust in listed Japanese companies.
On Friday, the bourse announced that Olympus would remain listed as a publicly traded company, clearing a major hurdle in the firm's efforts to recover from an embarrassing accounting scandal.
Its stock, however, was labeled "on alert," meaning it is tainted by corporate governance problems and will face delisting if no improvement is made within three years, Tokyo Stock Exchange Group Inc. said.