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Shuichi Takayama, its president, called the procedures highly inappropriate and apologised intended for causing bother. But he asserted the three directors who exhibit been implicated arrived the thing two of whom lost their executive positions on Tuesday had acted with the companys finest interests next to feeling, having inherited the restoration effort from unnamed predecessors.Ex-CEO addresses Olympus controversyOlympus issues an defense of sorts in the middle of the issues Mr Takayama declined to concentrate on were the size and origin of Olympus onwards losses; the identity of the executives who standard the preliminary cover-up; the exact channel by which it was executed; and the think logically it took so elongated to dispose of the bad assets.He supposed he feared prejudicing the labor of a troupe of authorized experts so as to is examining the matter, but Olympus biggest shareholder, the Japanese insurance troupe Nippon Life, together others trendy critical in support of supplementary admission. It said: We absence [Olympus] to happen powerfully accountable to dispel uncertainties.The inadequate explanation with the intention of was free has invited comparisons with Japanese corporate scandals of the 1990s, wearing which securities brokerages helped companies stung by the asset bubble of the preceding decade to hush up their losses wearing temporary off-balance-sheet havens a trick celebrated for instance tobashi, consequence to force to rush away.