TOKYO - Olympus of the Japan, said Tuesday that it would give its prospects for gains in 2011-2012 at the end of June and could draw from its imaging division disorder back into profit in 12 to 18 months.
British COO Michael Woodford, who took over as President and CEO of the endoscope and camera company operations on April 1, said in an interview that he is optimistic about the Outlook for the current year, after profits fell by 41% to 35.3 billion yen ($437 million) last year.
Woodford, 50, known to reduce the costs and the profit hike, European operations of the company said that the slump to a loss of 15 billion yen in the division of the camera for the year to March 2011 was "unacceptable."
He said it was expected to reduce costs and increase unit sales and unit prices back in the dark. But Olympus sold 8.1 million cameras in the year to March, is expected to sell more this year.
Production in the enterprise profitable endoscope was hit by the woes of supply chain in April and may after the earthquake on March 11 of Japan and the tsunami, but will recover by the summer and business plans to offset losses in production in July and ao?tWoodford said.
The company declined to give earnings guidance when it announced its annual results last week, due to uncertainties about the impact of disasters.
Woodford joined Carlos Ghosn Nissan and Sony's Howard Stringer among the small number of Japanese to manage a business in the country.
(Yen Japanese $1 = 80.795)
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