Former Olympus president Tsuyoshi Kikukawa transferred two of his privately held apartments to his family members in November 2011.
The transfer took place immediately following the announcement of the concealed corporate losses. It is thought that he transferred his property ownership in anticipation of civil prosecution.
According to the real estate title documents, Kikukawa owned two apartments in a 32-storey residential building in Takatsu-ku, Kawasaki City. He jointly owned a 110sqm apartment on the 30th floor with his son who currently resides in the UK, and fully owned a 105sqm apartment on the 28th floor. His ownership of both apartments were transferred to relatives on November 17th.