Olympus Shares Plummet 11% to 8-Month Low After Income Forecast Cut

• Olympus shares slumped over 11% to an 8-month low after the Japanese giant cut its full-year operational income guidance.
• The company's third-quarter operating earnings of ¥24 billion missed analyst expectations of ¥35 billion, a 37% drop.
• Reasons for the decline include low sales, layoff costs, increased US tariffs, and voluntary product recalls.
• Olympus cut its full-year projection to between ¥75 billion and ¥87 billion, significantly below the Bloomberg report's ¥132 billion.
• CEO Bob White is restructuring the company, planning to eliminate 2,000 jobs and optimize the supply chain amidst FDA warnings on medical equipment.