Olympus wins appeal in shareholder derivative lawsuit

The Tokyo High Court on September 25, 2025, rejected an appeal in a shareholder derivative lawsuit against Olympus's current and former directors and auditors. The lawsuit, initiated by an individual shareholder, sought JPY 1.6 billion plus late payment interest for alleged dereliction of duty related to consultant contracts at Olympus (Shenzhen) Industrial Ltd., a Chinese subsidiary. These contracts were purportedly to resolve negative inventory discrepancies in customs ledgers.

Olympus, as an intervenor in the lawsuit, argued that the plaintiff's claims lacked merit and had participated in the legal proceedings to ensure a fair judgment. This was due to the case's focus on the company's decision-making processes and internal control systems. During the first trial, the plaintiff withdrew claims against two of the originally eleven defendants.

Following the initial dismissal of all claims by the Tokyo District Court on December 5, 2024, the plaintiff appealed on December 20, 2024, against nine defendants. The plaintiff later withdrew the appeal against four defendants, leaving five as respondents. The High Court's decision today completely rejects the plaintiff's appeal, confirming the earlier ruling. Olympus stated it would announce any further reportable developments concerning the lawsuit.