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04-11-2007, 11:27 AM   #16
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QuoteOriginally posted by benjikan Quote
I received a call yesterday from my "Guy" at Pentax asking me to attend a meeting with some of the other executives there to discuss the "Salons des Photos" in Paris October 3-7, 2007. What we are planing to do etc. This issue may come out if I bring up the subject and do some diplomatic prying. I just might do so only if I feel the atmosphere feels right. Pentax France may still be out of the loop or perhaps they have more info that they may share with me. I doubt they will, if it might be interpreted as negative for their image, given that they have just taken me on board.

Ben
Thanks Ben, If something comes of it fine, if nothing then we aren't any worse off than before. But thanks in advance for the try.

NaCl(I have the feeling this will be a protracted battle)H2O

04-12-2007, 02:46 AM   #17
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QuoteOriginally posted by benjikan Quote
I received a call yesterday from my "Guy" at Pentax asking me to attend a meeting with some of the other executives there to discuss the "Salons des Photos" in Paris October 3-7, 2007. What we are planing to do etc. This issue may come out if I bring up the subject and do some diplomatic prying. I just might do so only if I feel the atmosphere feels right. Pentax France may still be out of the loop or perhaps they have more info that they may share with me. I doubt they will, if it might be interpreted as negative for their image, given that they have just taken me on board.

Ben
QuoteOriginally posted by NaClH2O Quote
Thanks Ben, If something comes of it fine, if nothing then we aren't any worse off than before. But thanks in advance for the try.

NaCl(I have the feeling this will be a protracted battle)H2O
Pentax UK certainly cannot make any statements, whatever they may feel, it's all far too early and tenuous, plus it is not their remit anyway, that belongs to Pentax in Japan. I would expect Pentax France (or anywhere for that matter) are under the same obligations.

I just get the feeling that considering that over 90% of all M&A's fall short of their desired aims and objectives (info here: http://www.haygroup.com/ww/Research/detail.asp?PageID=7997 ), Pentax people who've been brought up within the culture of the company are pleased that a stand is being made and that both the company which is so obviously back on the road to success, and the people, would like to benefit from their efforts. Ultimately (and maybe unfortunately as short term gain often prevails) it's up to the board and shareholders to decide what happens.

I was once told that "The word "company" means a group of people and that without the people, there is no company".

Let's hope common sense prevails.
04-13-2007, 06:11 AM   #18
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QuoteOriginally posted by NaClH2O Quote
Here is my take on all of this. First of all let me state that my crystal ball has severe front/back/side focusing problems and has been invaded by cerebral fungus besides. All that aside, I'll start out by quoting my sister who is a high level securities analyst specializing in Pacific Rim countries. When the initial Hoya merger was announced she said it was good news for Pentax but that Hoya was getting "an incredible bargin". I think there was some bigtime Pentax resentment over the intial stock swap price. Not to mention that Urano presented them with a fait accompli back in December. It seems that the other board members weren't even consulted on the deal. Bad Urano! Bad! Add to all of that the Hoya CEO's insensative remarks in Jan about dumping the imaging division if it wasn't as profitable as Hoya wanted. Hence the rebellion on the 4th of this month when they rejected the stock swap. So Hoya comes back with a tender offer instead and Pentax stock jumps. The other board members are a united front, they force out Urano and the other guy(forget his name) I think more as a show of unity than anything else they reject Hoya's tender offer. Notice that Watanuki, the new CEO, has said that a future deal with Hoya is not ruled out. OK this is where it sits now.
I pretty much agree with Richard. This ain't even begun to be over yet. AFAIK Samsung cannot by law buy Pentax. Of course they can set up dummy Japanese corps to do the same thing, but I doubt they'll go to the trouble. There is still a lot of bad blood between the two courntries because of WWII. This isn't a Sony/Minolta scenario. I personally think Pentax is looking for the RIGHT buyer at the RIGHT price because they need the R&D monies. Pentax as a loner simply doesn't have the deep pockets needed to develop new tech, they need a partner. I'm still hoping it will be Hoya, but with some guarantees about the imaging division. Seiko-Epson is another possibility, I think they can afford Pentax, but I doubt that Fuji can, and I also think that a Fuji/Pentax merger would be a mistake as they are direct competitors. Complementary mergers always work better than competitive ones. In any event I think that whoever buys Pentax will keep the name, it has very good recognition.

NaCl(if any of this comes about I'll be totally amazed)H2O
Nice post, I might add, the name Pentax means cameras, Samsung means toasters, I for one would not use a toaster to take photographs :-)


wll
04-13-2007, 06:23 AM   #19
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QuoteOriginally posted by Richard Day Quote
Pentax UK certainly cannot make any statements, whatever they may feel, it's all far too early and tenuous, plus it is not their remit anyway, that belongs to Pentax in Japan. I would expect Pentax France (or anywhere for that matter) are under the same obligations.

I just get the feeling that considering that over 90% of all M&A's fall short of their desired aims and objectives (info here: http://www.haygroup.com/ww/Research/detail.asp?PageID=7997 ), Pentax people who've been brought up within the culture of the company are pleased that a stand is being made and that both the company which is so obviously back on the road to success, and the people, would like to benefit from their efforts. Ultimately (and maybe unfortunately as short term gain often prevails) it's up to the board and shareholders to decide what happens.

I was once told that "The word "company" means a group of people and that without the people, there is no company".

Let's hope common sense prevails.
Richard,

You are right of course. What worries me is the lack of response by the board. They need to announce their direction very quickly because they are facing a PR nightmare. The market is not going to wait to long to react. If I were a retail operator I'd be hesitant to put any inventory in until the situation is a little clearer. A faster announcement on the 645 or a quicker release of the new lenses would do the trick. If I remember right the projected production of DSLR bodies was about 25,000 units a month. If they let it be known they are shipping more than 30,000 units a month (If they are), would also take the heat off.

I'm in the market for a K100D body and will hold off for another 60-90 days just to see what happens. It's a gift so I don't have to buy it today. The current price is about $404 after rebate and that could drop another $50 to $75 with what is going on. They have good traction in the market place and hope they don't squander this advantage by remaining silent.

Regards,

04-14-2007, 03:02 AM   #20
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QuoteOriginally posted by regken Quote
Richard,

You are right of course. What worries me is the lack of response by the board. They need to announce their direction very quickly because they are facing a PR nightmare. The market is not going to wait to long to react. If I were a retail operator I'd be hesitant to put any inventory in until the situation is a little clearer. A faster announcement on the 645 or a quicker release of the new lenses would do the trick. If I remember right the projected production of DSLR bodies was about 25,000 units a month. If they let it be known they are shipping more than 30,000 units a month (If they are), would also take the heat off.

I'm in the market for a K100D body and will hold off for another 60-90 days just to see what happens. It's a gift so I don't have to buy it today. The current price is about $404 after rebate and that could drop another $50 to $75 with what is going on. They have good traction in the market place and hope they don't squander this advantage by remaining silent.

Regards,
I agree that a statement needs to made soon.

What I also feel is that Urano needs to be silenced, he's making statements and accusations without regard to any non-disclosure agreements under which he must be obligated. Maybe it's time for the legals to get involved?

Even the investors are keeping quiet until the board makes considered statements, which of course is wise and correct.

In my opinion I'm certain that Pentax will continue in good health, they will probably emerge in a healthier condition that will surprise many, especially the doom and gloomsters. I think this is more of a personal scenario than anything else. If Pentax had gone ahead with the terms Urano had commited the company too, it would have been very badly undervalued, that's why the board revolted, I feel he stepped way outside his moral (and maybe real) terms of reference.

Personally, I will continue to purchase any Pentax gear that I feel I need/want regardless of the corporate situation at Pentax. I made my decisions for my personal use based on what the products do, and they have improved tremendously since my initial decision to go Pentax many years ago, nothing has changed that situation. I still feel I can also continue to recommend Pentax to others that have the same requirements and share the same objectives as myself.

I also feel that we too are morally obligated to keep a discrete and quiet stance for the time being, uninformed discussion also fuels the fires.
04-14-2007, 10:54 AM   #21
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QuoteOriginally posted by Richard Day Quote
In my opinion I'm certain that Pentax will continue in good health, they will probably emerge in a healthier condition that will surprise many, especially the doom and gloomsters.
I see some parallels here to the situation of Apple in the late 1990s. Apple survived by innovating and capitalizing on its strengths; I trust that Pentax will be able to do the same thing.

Will
04-14-2007, 04:20 PM   #22
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Well for the general population, more people know Samsung for their cellphones, TVs and appliances than they do Pentax for cameras. When people hear cameras, they think Canon, Nikon or Sony.

As for the name dilemma, I usually remind photographers that I may have a Samsung, but its a rebranded Pentax so they don't totally write me off. As for the average joes and janes, I'd say it so that they don't go out buying Samsung digicams and expect rebranded dSLR IQ out of it.
04-15-2007, 07:49 AM   #23
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QuoteOriginally posted by regken Quote
Hoya and Pentax are having second thoughts about the merger.
Pentax stock jumps, board split on Hoya merger | Technology, Media & Telecom | Reuters

The fun starts. My prediction is Hoya makes a hostile takover of Pentax and to offset the higher cost this entails they spin off the camera division to Samsung at the same time. The name Pentax may disappear because of ego but the K mount will be pushed like Sony does with the KM mount.

Regards,
Well, I finally got to talk to my sister about all of this. She is a senior vice president at a investment concern, her field of expertise is pacific rim companies. She is highly knowledgeable of the Japanese business community and it's practices (and speaks and writes fluent Japanese, Chinese and Korean) so I give her opinions a lot of weight.
Her take on the board coup is that the other board members were afraid for their jobs and that is why they staged the coup. She says Pentax is generally regarded as a poorly run company that has been barely profitable over the last few years. Urano was/is regarded as very good for Pentax and his outster is seen as bad news. She said that people in the know are kind of disgusted with Pentax board members for being so short sighted. The Hoya merger was generally seen as very good news for Pentax within the Japanese business community. She also said that Hoya might now institute a hositle takeover but its way too soon to tell. I asked her point blank if this was a death knell for Penatax and she said, unfortunately not, if it was they might be forced seek more innovative business practices, as it is they will probably survive as a third tier company just muddling thru. They desperately need deeper pockets than their own for some badly needed R&D.
All I can add to this is that I hope that things change in the future. I'm pretty sure my sister is right.

NaCl(I'm not feeling very happy about Pentax's latest moves)H2O


Last edited by NaClH2O; 04-15-2007 at 07:51 AM. Reason: spelling and typos
04-18-2007, 09:29 AM   #24
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Pentax asks for 60 days

Why would they want 60 days to think about it?

Pentax to ask Hoya for 60 days to mull bid-paper | Technology, Media & Telecom | Reuters

My guess is they plan on announcing a new product by then to boost the asking price or they will reveal great sales figures that will also do the trick. IMO it's down to how much they can squeeze out of Hoya.

Regards,
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