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06-30-2011, 11:50 PM   #1
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Notice of sale of the pentax imaging systems business

News update from the official Pentax website:

HOYA Corporation (“HOYA”) and Ricoh Company, Ltd. (“Ricoh”) hereby announce that pursuant
to decisions by the President and CEO of HOYA and Representative Director of Ricoh, respectively,
HOYA and Ricoh have executed an agreement as of today to transfer HOYA’s PENTAX Imaging
Systems Business (the business of developing, manufacturing and selling optical instruments such as
digital cameras and replacement lenses, digital camera accessories, security camera-related products,
and binoculars) (the “PENTAX Imaging Systems Business”) to Ricoh. HOYA will effectuate this
transfer by incorporating a new corporation (“NewCo”), cause NewCo to succeed the PENTAX
Imaging Systems Business by way of a corporate split (kyushu bunkatsu) (the “Corporate Split”),
and transfer all shares of NewCo to Ricoh (such split and transfer shall be referred to as the
“Split/Transfer”) as of October 1, 2011 (Estimated).

Prior to the Split/Transfer, HOYA intends to transfer its interests in PENTAX VN CO., Ltd., an
overseas subsidiary of HOYA in relation to the PENTAX Imaging Systems Business, to NewCo.

Please note, that since the Corporate Split is a simplified corporate split (kan-i kyushu bunkatsu),
disclosure items/content have been partially abbreviated.

Further, HOYA will continue to develop its businesses assigned from PENTAX Corporation which
was merged (kyushu gappei) into HOYA on March 31, 2008 other than the PENTAX Imaging
Systems Business, such as its businesses regarding digital camera modules, DVD pickup lenses,
endoscopes, artificial bones, and voice synthesis.

HOYA merged (kyushu gappei) with PENTAX Corporation on March 31, 2008, and has developed
the PENTAX Imaging Systems Business assigned from PENTAX Corporation until now. As part
of selecting and focusing its management resources, HOYA has decided to cause NewCo to succeed
the PENTAX Imaging Systems Business via the Corporate Split, transfer the business and shares,
etc. of HOYA’s Imaging Systems business subsidiary to NewCo via a business transfer and
share/interests transfer, and thereafter, transfer all shares of NewCo to Ricoh.

Ricoh’s core business is office solutions focusing on MFPs, Ricoh has also introduced many cameras
to the market since its inception in 1936. Ricoh was one of the first manufacturers to launch digital
cameras in 1995 and Ricoh’s current high-end compact digital cameras are well regarded in the
industry.

Now Ricoh aims to establish a consumer business. As a first step to achieve this goal, Ricoh
strengthens its camera businesses. Ricoh takes it as an indispensable initiative to obtain the small and
lightweight interchangeable lens camera technology, lens technology and sales channels held by the
Pentax Imaging Systems Division to pave the way for further advancement and innovations in the
digital camera market.

Through this acquisition, Ricoh plans to 1) enhance its digital camera businesses (especially the
interchangeable lens camera market which is expected to grow), 2) create value-added businesses for
taken photographs (creation and development of value-added services that encourage seeing, storing
and refinishing photographs and utilize photographs as communication tools), and 3) expand to other
fields (study of entry into the image archiving business using medium-format digital cameras and
enhancement of security-related products)

Complete release information is available here: http://www.hoya.co.jp/english/news/latest/d0h4dj0000001fv8-att/d0h4dj0000001fwi.pdf

# # #



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06-30-2011, 11:54 PM   #2
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Wow...
07-01-2011, 12:07 AM   #3
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Hmm, interesting to say the least.

Last edited by A-Craig; 07-01-2011 at 12:10 AM. Reason: Looked into it more
07-23-2011, 07:42 AM   #4
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Pentax Sale

Don't be gloom & Doom, Pentax wasn't going anywhere with Hoya. What about the name, it's not going to change for now. When I got my first Pentax a little over 50 years ago it was the "Honeywell" Pentax so what if it's Rico - Pentax. Maybe now we can get lenses that aren't over priced, new design and longer than 300mm. How about a better flash, Metz is better and cost less. I know everyone wants FF, but why don't we make what we have better. Go Pentax!!!! Oh, if you want to sell your Pentax stuff cheap let me know.

07-23-2011, 10:37 AM   #5
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Honeywell never owned Pentax (I should say Asahi Optical). That being said, I don't think them being under Ricoh ownership is necessarily a bad thing; in fact I'm somewhat optimistic.
07-23-2011, 03:07 PM   #6
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QuoteOriginally posted by Kunzite Quote
...I don't think them being under Ricoh ownership is necessarily a bad thing; in fact I'm somewhat optimistic.
I am VERY optimistic. But I've thrashed that out in other threads. Basic idea: Don't sweat it, Pentax will blossom.
07-24-2011, 08:02 AM   #7
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Pentax Sale

I know Honetwell didn't own Pentax, but the point I was trying to make is the name doesn't make a difference, if it's Ricoh/Pentax or just Pentax if we get product. I've been disappointed by Hoya's treatment of Pentax, like no promotion, no brochures for the K5 or lenses. The 540 flash and many of the lenses are way over priced and no long lenses. Hoya could have done a lot more, that all being said I like my K7 and will get a K5 as soon as the gloom & doom people sell out.
07-26-2011, 08:28 PM   #8
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QuoteOriginally posted by one photobug Quote
I know Honetwell didn't own Pentax, but the point I was trying to make is the name doesn't make a difference, if it's Ricoh/Pentax or just Pentax if we get product. I've been disappointed by Hoya's treatment of Pentax, like no promotion, no brochures for the K5 or lenses. The 540 flash and many of the lenses are way over priced and no long lenses. Hoya could have done a lot more, that all being said I like my K7 and will get a K5 as soon as the gloom & doom people sell out.
Honeywell was just the U.S. distributor following Sears. Sears had marketed under the Tower brand. Asahi dumped Honeywell with the advent of the K series, maybe slightly before. There was so much in a name that Asahi Optical became Pentax due to the fame of the Pentax camera model, the very model that showed Nikon and Canon what an SLR was, what an SLR looked like, and what an SLR was supposed to do. They quit making Leica and Contax clones.

All that said, obviously Hoya was in a holding pattern and it appears that everything released by Pentax was already in the works prior to the Hoya merger.

07-29-2011, 10:03 PM   #9
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Interesting - but I guess no surprise. Hoya has made no secret that it had little long-term interest in the camera business it acquired along with the medical stuff it really wanted when it picked up Pentax. I think Citi (maybe it was Goldman) also indicated that Hoya was seeking a buyer.

However, the selling price of only a 124 million bucks (US) brought home to me how tiny the Pentax camera business actually is. That looks to me like a pretty cheap entry into the DSLR business for Ricoh - let's hope it's a good bet for them and us.

Jer
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