This report does not constitute a rating action. TOKYO (S&P Global Ratings) June 26, 2025--An import warning by U.S. authorities will likely make it difficult for Olympus to develop its risk management system, in our view. The move could weigh on the company's creditworthiness and comes despite increased regulatory compliance. The U.S. Food and Drug Administration (FDA) has issued an import alert for some endoscopes and related medical equipment made by Olympus Corp. (BBB+/Stable /--) in Japan, suspending imports of such products. We believe a delay in developing a risk management framework could reduce Olympus' competitiveness and undermine its earnings and financial position. In that case, there will be increased pressure on the credit rating. Regulatory compliance is a requirement
