The rumors that Olympus was leaving the camera business persisted for some time and were routinely denied by the company until they weren’t
We covered all of the ups-and-downs of that saga and now we’re moving on to the new era for Olympus. While the company isn’t exactly leaving the business, it is in a way.
Because all of its imaging assets will be transferred over to the New Imaging Company, a joint project with Japan Industrial Partners in which Olympus will have a huge stake.
From the company’s press release, “Olympus Corporation (‘Olympus’) today concluded a definitive agreement with Japan Industrial Partners Inc. (‘JIP’) regarding the transfer of the Olympus Imaging business. Under the agreement, Olympus will transfer its Imaging business to a newly established wholly-owned subsidiary of Olympus (the ‘New Imaging Company’), through an absorption-type split. This is to be followed by transferring 95% of the shares of the New Imaging Company on January 1, 2021, to OJ Holdings, Ltd., a special purpose company established by JIP.”
As far as Olympus products are concerned, the New Imaging Company will carry over its legacy as much as possible.
“The agreement applies to Olympus’ global Imaging business, which includes all R&D and manufacturing facilities currently dedicated to its Imaging business. The New Imaging Company will continue to provide high-quality, highly reliable products. Built on a solid foundation, including the Zuiko and OM brands, which are grounded in optics and digital imaging technologies cultivated by Olympus over many years, the New Imaging Company will be appropriately positioned to further pursue new developments,” the press release details.
What do you think of Olympus move to form a new imaging company separate from the mothership? A sign of the times? Let us know your thoughts on this in the comments section below.
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