It has been reported that the ongoing pressure on the economy of the US and Europe has had adverse impact over the revenue of Toyota, as it’s succumbed to 15 years low rate. Today, the Nikkei Stock Average initially rose by 0.2%, but in the later part of the day, it fell by 2.9%.

Meanwhile, it has been reported that Japan’s leaders are gearing themselves up for solving the controversial issue of Olympus. The Olympus is a firm which produces digital cameras and other electronic gadgets.

The firm caught the eye of the political leaders when it came to light that it tried to hide its losses from the government. The leaders of Japan are of the view that if the Olympus scandal is not resolved then there are chances of Japan losing its reputation in the international market.

It has been informed that an investigation over whether or not Olympus has violated the financial policies has already begun. However, during previous investigation, the financial services minister, Shozaburo Jimi confirmed that the camera manufacturer did succumb to losses in 1990 which tried to hide by paying fees.

For hiding the facts from the government, Michael Woodford, then Chief Executive of Olympus was fired from the post. However, this week, it has been reported that the firm tried to hide its losses through $1.2bn fees.

Expressing concern over the Olympus scandal, Shozaburo Jimi said, “It is troubling to see investors, both domestic and abroad, question the fairness and transparency of the Japanese markets. I am determined to take every measure necessary, if any issues for improvement were to be identified through untangling of this case”. It has been informed that the authorities of Japan are planning to introduce severe punishment for those who are found guilty of causing any financial scandal.