[Tom S.]

LOL - where's the report about flashes?

[luftfluss]

Yes we do, save for Panasonic (they don't report on this specific activity).

Olympus Imaging are in deep trouble with declining sales, operating losses (including one-offs) amounting to half of the sales (!) and break-even expected only by the second half of the current fiscal year (and when one remembers the usual overoptimism of Olympus's forecasts...). Their strategy is clearly stated in their presentation: 'Transforming into A Truly Global Medical Technology (Medtech) Company'

It is sad to see Olympus struggle so. They make some truly excellent gear.

[clackers]

Yes we do, save for Panasonic (they don't report on this specific activity).

Olympus Imaging are in deep trouble with declining sales, operating losses (including one-offs) amounting to half of the sales (!) and break-even expected only by the second half of the current fiscal year (and when one remembers the usual overoptimism of Olympus's forecasts...). Their strategy is clearly stated in their presentation: 'Transforming into A Truly Global Medical Technology (Medtech) Company'

Thanks for those figures, Mistral - very handy!

[ffking]

I dont really understand this stuff in detail, but it is reassuring to me that Ricoh top execs still run the business in quite a conservative way - sometimes the fact that their core business is in business to business makes you pull your hair out - as in lack of advertising etc - but sometimes that attitude gives an indication that they are in it for the long term and not followers of fads, which is good for us - they ill stick ith Pentax as long as it doesn't bleed money, even if it doesn't make a pile either.

[monochrome]

Yes we do, save for Panasonic (they don't report on this specific activity).

Olympus Imaging are in deep trouble with declining sales, operating losses (including one-offs) amounting to half of the sales (!) and break-even expected only by the second half of the current fiscal year (and when one remembers the usual overoptimism of Olympus's forecasts...). Their strategy is clearly stated in their presentation: 'Transforming into A Truly Global Medical Technology (Medtech) Company'

The device used for my most recent colonoscopy was an Olympus. The prior time (3 years ears ago) it was a Pentax. How sad for Hoya.

[Mistral75]

The device used for my most recent colonoscopy was an Olympus. The prior time (3 years ears ago) it was a Pentax. How sad for Hoya.

And for your... ahem... bottom? Which one was its favourite?

[Rondec]

Olympus is a private company and so I suppose they can continue to lose money on cameras as long as they want -- and as long as their medical devices profits can support it. I do wonder if there will come a time where they feel as though they are throwing away good money after bad...

[monochrome]

Olympus is a private company and so I suppose they can continue to lose money on cameras as long as they want -- and as long as their medical devices profits can support it. I do wonder if there will come a time where they feel as though they are throwing away good money after bad...

Olympus is a publicly traded company. Sony owns 5.05% of the shares, having rescued Olympus after the 2011 criminal books-cooking scandal.* Sony is the third largest shareholder. Other Japanese corporations in total own 8.84% of the shares.

* Olympus closed 40% of its manufacturing plants, laid off 7% of its workforce and 11 Directors and Officers of the company were arrested for financial crimes. The British President of the company, previously brought in to ‘fix’ Olympus, discovered the decade-long scheme to cover up losses and make payments to criminal enterprises, but was dismissed by the Board and accused of concocting the story to oust the Chairman. When the truth was later revealed by a financial periodical he sued for defamation of character and was awarded a $10MM GBP judgement.

I don’t believe Olympus has ever recovered.

[totsmuyco]

Olympus has always been in the lead when it comes to endoscopy. They have always been strong in the industry. I know, we've had experience with Pentax and Olympus. Pentax endoscopy system is nowhere near Olympus.

[Mistral75]

Olympus Imaging (= mirrorless cameras and lenses -74%-, compact cameras -14.5%- and voice recorders -11.5%-) have been performing poorly since more than a decade. Sales have been plummeting since 2008. Losses, sometimes significant ones (more than 10% of revenue), have been recorded almost each year since FY2009 (= April 2008 - March 2009).



They are now forecasting to reach break-even during the second half of FY2020. Unfortunately, forecasts being overoptimistic are not unheard of at Olympus's.



(there was no forecast for FY2012 because of the earthquake and tsunami of 11 March 2011.)

This could have come to an end:

1. ValueAct Capital, a US activist investor / hedge fund, has become Olympus's largest shareholder last year.
   xxx
2. On 1st April 2019 a new CEO was appointed: the former CFO, an accountant by education (the former CEO was an engineer). A new director, chosen by ValueAct Capital, has joined the board.
   xxx
3. At the general shareholders' meeting in June, two new directors chosen by ValueAct Capital will be appointed, at least one of them being from outside the company.
   xxx
4. Olympus have a new motto, as revealed by their financial report for FY2019: 'Transforming into A Truly Global Medical Technology (Medtech) Company'.

[Rondec]

Olympus is a publicly traded company. Sony owns 5.05% of the shares, having rescued Olympus after the 2011 criminal books-cooking scandal.* Sony is the third largest shareholder. Other Japanese corporations in total own 8.84% of the shares.

* Olympus closed 40% of its manufacturing plants, laid off 7% of its workforce and 11 Directors and Officers of the company were arrested for financial crimes. The British President of the company, previously brought in to ‘fix’ Olympus, discovered the decade-long scheme to cover up losses and make payments to criminal enterprises, but was dismissed by the Board and accused of concocting the story to oust the Chairman. When the truth was later revealed by a financial periodical he sued for defamation of character and was awarded a $10MM GBP judgement.

I don’t believe Olympus has ever recovered.

Maybe I was thinking of Sigma?

Certainly if as was mentioned elsewhere Olympus' majority owner is now a hedge fund, it could mean an end to any enterprises they are involved with that don't generate decent income -- much like Hoya and Pentax except that I think Hoya managed to at least break even with Pentax's camera business (through lack of investment). I'm not sure who would want Olympus' camera business with the current camera market in view.

[Mistral75]

Maybe I was thinking of Sigma?

(...) I'm not sure who would want Olympus' camera business with the current camera market in view.

Sigma is indeed a family-owned business, as is Cosina.

The Taiwanese Hon Hai Precision Industry Company Ltd,, better known under the Foxconn brand name, might be interested in Olympus Imaging:

• they want to expand into direct-to-consumer product sales rather than serving as a contract manufacturer
• they took over Sharp in 2016 and turned it around in one and a half years, therefore they are no strangers to successfully investing in underperforming Japanese companies
• Sharp is a member of the µ4/3 consortium and is developing an 8K camera with a µ4/3 mount and a 32MP sensor with a 16:9 aspect ratio, a prototype of which was showcased at CP+.

[RonHendriks1966]

Sigma is indeed a family-owned business, as is Cosina.

The Taiwanese Hon Hai Precision Industry Company Ltd,, better known under the Foxconn brand name, might be interested in Olympus Imaging:

• they want to expand into direct-to-consumer product sales rather than serving as a contract manufacturer
• they took over Sharp in 2016 and turned it around in one and a half years, therefore they are no strangers to successfully investing in underperforming Japanese companies
• Sharp is a member of the µ4/3 consortium and is developing an 8K camera with a µ4/3 mount and a 32MP sensor with a 16:9 aspect ratio, a prototype of which was showcased at CP+.

Ofcourse you can slim down the company, but you still need more customers then Olympus and all others have for m4/3th.

Olympus camera line-up is old already. Not many new products over the last years and omd-e-m5 mark ii (and m10-markii) is already from 2015. Pen-f from 2016. So most users have the almost most recent camera in their hands and don't need to spend money.

Wich is (to come back to Pentax) the same issue for Pentax users. If you have a K-70 (2016), a KP (2017) or a K-1 (2016) you got like almost the latest and greatest from the brand.

[Mistral75]

That's why Ricoh Imaging's financial performance is currently pulled by Ricoh-branded cameras (GR III and Theta) and some Pentax lenses.

[ffking]

Pentax endoscopy system is nowhere near Olympus.

Let me guess - lack of investment?