Olympus Medical Device Company Intelligence Report

Date: January 30, 2013
Pages: 39
Price:
US$ 515.00
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Publisher: Espicom Business Intelligence
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: OCB514D7E76EN
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Olympus Medical Device Company Intelligence Report
Olympus Corporation, headquartered in Tokyo, Japan, develops and manufactures products based on optical and electronic technology for the consumer, scientific, healthcare and industrial markets. The company operates within five divisions; Medical, Imaging, Life Science & Industrial, Information & Communication and Other.

The main focus of this profile is Olympus Medical, the Olympus group’s largest operating division, accounting for almost 41% of the company’s total turnover in the financial year ended 31st March 2012. The division is a leading manufacturer of gastrointestinal endoscopes, surgical endoscopes, endotherapy devices, endoscopic ultrasound systems and related products.

Olympus Medical sells its products throughout the world and has manufacturing facilities in Japan, the US, Germany, the UK, the Czech Republic and Vietnam. In fiscal year 2012, the division generated net sales of ¥349.2 billion.

In October 2011, Olympus was embroiled in a global scandal, when it emerged that the company had participated in fraudulent long-term loss-hiding activities. The activities were uncovered by the company’s then new CEO, Michael Woodford, who raised questions over suspect acquisitions Olympus had made outside of its core business, as well as disproportionately high M&A fees associated with them. Of particular suspicion was the February 2008 acquisition of Gyrus ACMI, which carried a US$687 million middle-man fee, a sum equal to 31% of the purchase price.

On 14th October 2011, Woodfood was sacked as Olympus’ CEO by the company’s Board of Directors, allegedly over Woodford’s insistence that the Olympus officials come clean about the series of questionable acquisitions totalling US$1.6 billion. The deals had been approved by Woodford’s predecessor, Tsuyoshi Kikukawa Kikukawa, as well as the Olympus Board, but in several cases, the parties receiving the sums were not identified in Olympus’ financial statements. Woodford was replaced by Kikukawa, but on 26th October 2011, Kikukawa resigned, to be replaced by new President, Hiroyuki Sasa. On 8th November 2011, Olympus was forced to admit that its accounting practices had been used to conceal losses, dating back to the 1990s. Kikukawa was blamed, along with the company’s auditor and an Executive Vice President.

This company report provides

Overview
  • Key contact information
  • Introduction to the company and its current activities
  • Summary of its financial performance
  • Who are the company’s major competitors?
  • Key recent events in an “at a glance” format
Financial Review
  • Current year and annual financial data, including revenue breakdowns by product area and geographic region (if available)
  • Table providing in-depth five-year financial analysis
  • Employee data, including breakdown by company division and geographic location
Strategic Focus

Investigates the company’s aims and its areas of focus

Products

Core product areas, key brands, product approvals and launches

Research and Development
  • How much has been invested in R&D?
  • Where is the research based?
  • What alliances and agreements does the company have and with whom?
Manufacturing and Distribution
  • Identifying the company’s manufacturing locations
  • Sales and marketing facilities
Agreements
  • With whom has the company reached agreements and what do they involve?
  • Key contracts awarded
Mergers, Acquisitions, Minority Investments and Divestments

Litigation

Key Corporate Events
OVERVIEW

STRATEGIC FOCUS

Corporate Management Policies
Basic Strategies
  Rebuilding of the Business Portfolio and Optimal Allocation of Management Resources
  Review of Cost Structures
  Restoration of Financial Health
  Restructuring of Governance
Performance Indices and Targets
Analysis of Japanese Medical Market

FINANCIAL REVIEW

Fiscal 2012 Financial Results
  Medical Products Division
Five-Year Financial Data
Employees
Outlook

PRODUCTS

Endoscopic and Surgical Products
  Cleaning, Disinfecting and Sterilisation
Endotherapy Products
Energy and Tissue Management
Biotechnology
Dental Products
Healthcare IT Products
  EndoWorks Information Management System
  Endobase Endoscopy Management and Image Filing System
  Solemio Support Systems
  n-Stream Dual Channel Video Management System
  VaultStream

RESEARCH AND DEVELOPMENT

R&D Establishments
R&D Agreements
  Siemens Healthcare
  Cytori Therapeutics
  Terumo
    Heart Surgery
    Gastroenterology
    Urology
  Cleveland Clinic Glickman Urological Institute
R&D Expenditure

MANUFACTURING AND DISTRIBUTION

Manufacturing
Sales and Distribution

AGREEMENTS

BonAlive Biomaterials
Carl Zeiss Microscopy
Caris Diagnostics
DigiPath
Leica Microsystems
Hirox-USA
SBi APAC
Advanced Surgical Concepts
BrainLAB
Aloka

MERGERS AND ACQUISITIONS

Spirus Medical
Stryker’s OP-1 Business
Innov-X Systems
Spiration
Olympus Surgical Technologies Europe
Iwaken
Merger of Olympus’ UK Businesses
Gyrus

MINORITY INVESTMENTS

Small Bone Innovations
Cytori Therapeutics
Asthmatx
AJ Industries
Terumo

JOINT VENTURES

Sony-Olympus Medical Solutions
Olympus Terumo Biomaterials
Olympus-Cytori

LITIGATION

Class Action Lawsuit
Terumo
Given Imaging

KEY CORPORATE EVENTS

LIST OF TABLES

Recent Key Events
Olympus – Performance Indices and Targets to FY2017
Espicom Analysis of Japanese Medical Market, 2012
Olympus - Annual Financial Results, FY2008-FY2012
Olympus - Annual Sales by Business Segment, FY2008-FY2012
Olympus Medical - Annual Financial Results, FY2008-FY2012
Olympus Medical - Annual Sales by Product Area, FY2008-FY2012
Olympus Medical - Annual Sales by Geographic Area, FY2008-FY2012
Olympus Corporation – Five-Year Financial Summary
Olympus – Forecast Financial Results, FY2013-FY2017
Olympus – Annual R&D Expenditure, FY2008-FY2012
Olympus – Principal Medical Systems Manufacturing Facilities, January 2013
Agreements Summary
Mergers and Acquisitions Summary

LIST OF CHARTS

Olympus – Annual Sales and Operating Income, FY2008-FY2012
Olympus - Annual Sales by Business Segment, FY2008-FY2012
Olympus Medical - Annual Sales and Operating Income, FY2008-FY2012
Olympus Medical– Annual Sales by Product Area, FY2008-FY2012
Olympus Medical - Annual Sales by Geographic Area, FY2008-FY2012
Olympus Medical – Growth Target to FY2017
Olympus Medical – Product Category Sales, FY2012
Global Endoscopy Market - Company Shares, 2011
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