Japan's Ricoh to buy Pentax digital camera brand

Jul 01, 2011

Japanese office equipment and camera maker Ricoh on Friday said it would buy Hoya Corporation's Pentax digital camera business as it looks to expand its consumer products business.

In a statement, the companies said Ricoh would use the Pentax brand name for its digital camera products, while Hoya would continue to use the Pentax brand for products such as . They did not provide a value for the deal.

The Nikkei business daily reported that the deal was worth an estimated 10 billion yen ($124 million).

The acquisition, which is effective from October, is part of Ricoh's efforts to grow beyond office products such as printers, photocopiers and fax machines.

Companies face fierce in the market, which is placing downward pressure on midsize makers' profits.

The move by Ricoh could trigger a major industry realignment, the Nikkei said.

In a statement, Ricoh said the acquisition was partly driven by its belief that "the borderline between office and home will fade and this will be reflected in a major change in products and services."

In May Ricoh said it planned to cut 10,000 jobs worldwide over three years to turn around sagging business operations amid the rise of a paperless trend driven by the emergence of smartphones and .

Ricoh was hit hard by the 2008-09 global financial crisis and the strong yen and has struggled to recover in the face of stiff competition.

The company employs 40,000 people in Japan and 68,900 overseas and has said it aims to shift more staff into areas with more growth potential, such as for corporate clients.

Hoya is looking to streamline its business to focus on medical products and materials for electronic devices using optics technologies.

Hoya will transfer the Pentax imaging systems business to a newly established subsidiary, and Ricoh will then acquire 100 percent of the outstanding shares of that new company, the statement said.

Hoya acquired the Pentax imaging business from Pentax Co. in 2008.

Explore further: Apple intercepts Microsoft's Surface tablet NFL play

add to favorites email to friend print save as pdf

Related Stories

Ricoh Extends Partnership with UMC to 90nm

Sep 15, 2004

UMC selected over other foundries due to its 90nm readiness and mass production experience UMC, a world leading semiconductor foundry, today announced the extension of its partnership with Ricoh Company for the manufacturing ...

Ricoh Launches Economic Application for Its MFPs

Apr 22, 2007

Earlier this week, Ricoh released its Smart Accounting software, which enables small and medium-sized businesses to keep track of their document-related expenses on their Ricoh multifunctional products.

China's Lenovo, NEC form PC joint venture in Japan

Jan 27, 2011

Japanese and Chinese electronics firms NEC Corp. and Lenovo Group on Thursday announced they will form a personal computer joint venture in Japan, as they take on global giants such as Hewlett-Packard.

Xerox Buys Global Imaging Systems

Apr 03, 2007

Global Imaging Systems will start selling Xerox printers, copiers and multifunction devices, which is expected to help expand Xerox's reach into the small and midsize business space.

Xerox in $6B deal to expand tech services business

Sep 28, 2009

(AP) -- Xerox Corp. said Monday it will buy Affiliated Computer Services Inc. for $6.4 billion in cash and stock, joining the expensive race among technology companies to broaden their offerings.

Recommended for you

Line says no IPO this year

5 hours ago

The Japan-based operator of popular mobile messaging app Line said Monday it has decided not to go ahead with an initial public offering in Japan or overseas this year.

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

User comments : 0