Olympus Loss Concealment Issue President Takayama resigned in April

January 18, 2012, Tokyo, Japan - A staff member of the scandal-tinted Olympus distributes copies of file to the media before the start of a news conference by its President Shuichi Takayama in Tokyo on Wednesday, January 18, 2012. Takayama told the news conference that the current leadership, including Takayama himself, would remain in office for another three months as the camera and medical equipment maker prepared for an extraordinary shareholders' meeting in the latter half of April. Olympus set up the news conference a day after the company-appointed independent panel cleared auditing firms from responsibility for the company's accounting scandal but found five current and former individual auditors culpable, which means Olympus won't take legal action against its outside accounting firms for failing to uncover a 13-year effort to hide $1.5 billion in investment losses. (Photo by Natsuki Sakai/AFLO) AYF -mis-