June 27, 2005

Olympus Publishes CSR Report 2005 - Content Updated and Expanded -

Summary

Olympus Corporation (President: Tsuyoshi Kikukawa) is pleased to announce the publication of the Olympus CSR Report 2005 (Japanese version, 52 pages). The content of the report includes the Olympus Group's philosophy and policies concerning corporate social responsibility (CSR), and the results of environmental activities, social activities and other initiatives during the year ended March 31, 2005.

The latest report has been enhanced to meet the specific needs of readers. For example, terminology is explained clearly, and detailed data are provided on a website http://www.olympus.co.jp/jp/corc/csr/wdata (Japanese Only). Also, this report has been examined by third-party*1 to ensure objectivity. English and Chinese versions of the report will be published in late August.

	*1	The inspection was carried out by TÜV Rheinland Japan.

Last year Olympus announced its support for the United Nations Global Compact and formulated a Corporate Conduct Charter and Code of Conduct based on the 10 Principles of the Global Compact. This report is structured around the six items of the Charter: "Sound Corporate Activities," "Acting on Behalf of the Customer," "Respect for Human Rights," "Working Environments with Vitality," "Harmony with the Environment," and "Good Relations with Communities."

Highlights from the Olympus CSR Report 2005

1.	Accelerated Introduction of Eco-Products:Olympus accelerated the introduction of environment-friendly products and was able to bring Olympus Eco-Products to market in its imaging, medical, life science and industrial business segments.
2.	Initiatives against Global Warming:The scope of reporting of energy-related CO2 emissions was expanded to include European and North American business sites and the Panyu Factory in China. Olympus implements energy conservation measures when building new facilities. There was a 0.3% year-on-year reduction in CO2 emissions per unit of sales*2. Olympus also monitors and is working to reduce emissions of non-energy-related greenhouse gases*3. There was a 16% year-on-year reduction in terms of the CO2 equivalent.
3.	Basic Environment Plan - Ecology Vision 21 Part II:Olympus conducted a three-yearly review of its Basic Environment Plan, which covers a five-year time-frame. The Report describes progress made by Olympus with its efforts to become an environmentally advanced enterprise under this medium-term plan.
4.	Expanded Implementation of Environmental Management System:ISO14001 certification was achieved at the Panyu Factory in China. Olympus had already achieved certification at its plants in Japan, Europe and North America.
5.	Special Features Introducing Key Topics:The Olympus Group's CSR philosophy and specific initiatives through its imaging and medical business segments are explained in clear language.
6.	Comprehensive Coverage from the CSR and Sustainability Perspectives:In addition to environment-related information, the Report provides comprehensive coverage from the CSR and sustainability perspectives, including information about corporate governance, compliance, quality improvement, customer service, personnel and labor management, social contribution and communications.

	*2	CO2 per unit of net sales: This indicator shows the amount of CO2 used to carry out the corporate activities needed to generate net sales of \100 million. A low figure indicates that activities are efficient and do not impose a burden on the environment.
	*3	Non-energy-related greenhouse gases: These are gases, such as methane and CFCs, that contribute directly to global warming when released into the atmosphere. A familiar example is the HCFC propellants used in gas dusters (spray cans).

Since 1994 Olympus has sought to become a "value-creating" enterprise under a management philosophy based on the "Social IN"*4 concept, which calls for social involvement, the sharing of social values and the proposal of new values to society. Olympus is promoting corporate social responsibility activities throughout the Olympus Group. In April 2005, it established Corporate Social Responsibility Division to coordinate activities in such areas as the environment, quality and risk management. From an environmental perspective, the Olympus Group will continue to fulfill its responsibilities by consolidating the use of eco-design methods and working toward the development of a sustainable society.

The Olympus Group will continue to communicate with a wide range of stakeholders, including its customers and shareholders. It plans to publish CSR reports annually, next year and in subsequent years.

	*4	Social IN: This phrase was created by Olympus from the English words "INvolvement," "INsight" and "INspiration." These words symbolize the Olympus Group's involvement in society, its sharing of values with society, and its proposal of new values to society.