The Olympus boss sacked last month as an accounting scandal emerged has been invited to return to meet with Japanese authorities and Olympus itself this week.
According to a report from Reuters this morning, former chief executive Michael Woodford – who was removed in late October after raising concerns about the company's accounting activities – has now accepted an invitation to attend a board meeting at Olympus in Tokyo this week.
The newswire said the move could signal hope for investors worried by recent events who believe Woodford could lead any clean-up. He would also meet Japanese police and other authorities, Reuters said.
The firm has admitted "deferring" investment losses for 20 years, and using funds from merger and acquisition payments to cover up the losses.
In a statement issued by Olympus on 16 November, the company issued a formal apology for its "deferred" filings, and announced emendations of its accounts.
"The company would like to take this opportunity to sincerely offer its deepest apologies to shareholders, investors, business partners, customers and all other relevant parties for all inconvenience caused," it said.
It went on to detail the investigation so far, stating: "None of the funds are used for money laundering or for an anti-social organisation."
Media reports over the past month have speculated about yakuza – Japanese organised crime – connections, which occasionally have come to light in the world of Japanese business. However, nothing of that nature has been found by the investigation, on which a full report is due in days.
The UK's Serious Fraud Office is also believed to have launched an investigation into Olympus last week as part of its co-operation with international authorities currently examining the camera maker's activities.
The payments that have been questioned allegedly include funds for a $2.1bn (£1.34bn) buyout in 2008 of the then-UK-based medical imaging device manufacturer Gyrus.
The Olympus report on 16 November states: "Olympus occurred losses on investments dating to the 1990s. [It used] multiple funds to cover up the losses. The payments made with regards to the acquisition of Gyrus Group and three domestic (Japanese) companies were used to make up for the loss."
MSP plans to use new acquisition to expand its security offerings
Reseller also saw its operating profit fall five per cent in its financial 2017
Wendy Bahr to bring 18-year spell at networking giant to an end
AdEPT says latest purchase will push revenue beyond £50m