TOKYO | turns A page of Olympus, the great name of the photograph: the japanese group announced on Wednesday a preliminary agreement with an investment fund nippon to give him his cameras, deficit, and become marginal to the group.
Olympus plans to sign a final agreement with the fund, Japan Industrial Partners (JIP) by September 30, and finalize the transaction by December 31, 2020, according to a press release.
The potential price of the transaction has not been disclosed.
This transfer to JIP, a fund specialized in the acquisition of companies and businesses in difficulty, the solution is “more appropriate” for this division, because this should allow him to become “more compact, more efficient and agile”, has ensured Olympus.
Company centenary, which was first started as a manufacturer of microscopes and thermometers, Olympus had released its first camera in 1936.
This was to become the segment’s flagship group for decades, holding a candle high in his great rivals of the time, and fellow Canon, Nikon, Fujifilm, Pentax, or even Sony.
After a resounding scandal of falsification of its accounts in 2011, Olympus was refocused on medical equipment, hoping to straighten out his segment photographic, in crisis in the face of the explosion of the market of smart phones.
Despite his efforts, his division of cameras is accused of operating losses over its last three financial years.
On its last fiscal year 2019/20, for the year ended 31 march, this division has achieved a turnover of 43.6 billion yen (553 million dollars), a drop of 10.4 % year on year, to an operating loss of 10.4 billion yen ($131 million approximately).
This segment represents more than 5 % of the total annual sales of Olympus, which is primarily found in endoscopes and other medical equipment.