Reuters reported that Japan’s Fujifilm said on it is considering supporting scandal-hit endoscope maker Olympus, although neither side looks likely to move quickly on an equity alliance that Olympus needs to shore up its finances.

The article explained a $1.7 billion accounting fraud has severely depleted Olympus’ net assets, but the company is being supported by major Japanese shareholders that prefer bringing in an equity partner to selling the whole company or its assets.

The report noted that Olympus’ flexible diagnostic endoscope business, which boasts a 70% market share, is seen as a jewel of profitability in Japan’s lackluster electronics industry.

To read the full Reuters article click here.

Previously on monitordaily: TPG Capital Seeking Partners to Invest in Olympus, published January 13, 2012