Struggling camera manufacturer Olympus may soon find relief from Sony, according to a new report from Nikkei. The two firms are said to be negotiating a $623 million investment from Sony Corp., which would make it Olympus' largest shareholder, accounting for more than a 10 percent stake. In April, Olympus reportedly began seeking partnerships with Fujifilm, medical systems maker Terumo, and Sony in an effort to recover from its revenues losses, accounting irregularities, and planned staff reductions of over 2,700 employees. When reached for comment, an Olympus spokesperson said that the company is not prepared to make an announcement.
"This is not something that we have announced," the representative told Reuters. "It has not been decided yet."
The two firms are said to be in the final stages of the discussion and hope to strike a deal within the next month.