By YURI KAGEYAMA - AP Business Writer

Olympus Corp. has reached a settlement with whistleblower Michael Woodford who had been suing over his dismissal as chief executive of the Japanese camera maker.

Woodford, a Briton, was fired in October after he blew the whistle on dubious accounting at Olympus. The Tokyo-based company has acknowledged it hid 117.7 billion yen ($1.5 billion) in investment losses dating back to the 1990s.

Terms of the deal reached Tuesday were not disclosed as a condition of the settlement, both sides said. The company said Wednesday its board must also sign off on the settlement.
"Hopefully today is a closer. A line has been drawn, and the company can move on and I can," Woodford told reporters in London.

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