Prosecutors enter building
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Olympus raids: Seeking evidence of a 'massive scandal'

21 December 2011 Last updated at 07:58 GMT

Japanese prosecutors have raided the headquarters of camera and medical equipment maker Olympus as part of an ongoing investigation.

The offices of some of the firm's subsidiary companies and the homes of former executive were also targeted in the operation, which was broadcast on Japanese TV.

Olympus is being probed over its accounting practices and the admission that it hid losses.

The issue came to light after former chief executive Michael Woodford claimed he was fired for questioning payments relating to mergers.

Olympus has admitted it hid losses of $1.5bn (£968m) over past two decades.

The BBC's Roland Buerk in Tokyo has said investigators are trying to gather evidence in what seems to be a massive scandal.