Definitive Agreement

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Definitive Agreement

 

Olympus Corporation today concluded a definitive agreement with Japan Industrial Partners Inc. (JIP) regarding the transfer of the Olympus Imaging business. Under the agreement, Olympus will transfer its Imaging business to a newly established wholly-owned subsidiary of Olympus renamed OM Digital Solutions Corporation. This is to be followed by transferring 95% of the shares of OM Digital Solutions Corporation on January 1, 2021, to OJ Holdings, Ltd., a purpose company established by JIP.

Olympus began the manufacture and sale of cameras using the Zuiko lens in 1936 and became one of the world’s leading camera makers. Olympus was among the first companies to make small, lightweight compact cameras with professional quality, such as the award-winning Olympus ‘OM’ and ‘Pen’ series. Driven by the desire to make people's lives more fulfilling around the world, the company applied innovative technology and unique product development to distinguish itself in a highly competitive industry.

With our commitment to legacy and bringing value to users of our products, Olympus concluded that by carving-out the imaging business and operating the business under JIP, its business structure would become more compact, efficient, and agile, and it is the most appropriate way to realise self-sustainable and continuous growth in the current climate and market. With a loyal following and long history of innovative products, the newly established OM Digital Solutions will be committed to building on Olympus’ accumulated expertise and to continue providing customers with innovative, high-quality cameras, lenses, audio recorders, binoculars, software and applications under the new business structure. 

“I would like to express my heartfelt gratitude to all our customers for their patronage and support of Olympus products, and for their passion devoted to photography. I have the utmost confidence that this transfer is the correct step forward in sustaining the value of our products and services,” said Yasuo Takeuchi, President and CEO of Olympus Corporation.

“At the same time, I am certain that this opportunity is the best choice for our long-time patrons, new customers and photography enthusiasts. Under the new company, the development, manufacturing, sales and service functions will continue tight collaboration to introduce new products that will satisfy customers,” Takeuchi added.

The agreement applies to Olympus’ global Imaging business, which includes all R&D and manufacturing facilities currently dedicated to its Imaging business. OM Digital Solutions will continue to provide high-quality, highly reliable products. Built on a solid foundation, including the Zuiko and OM brands, which are grounded in optics and digital imaging technologies cultivated by Olympus over many years, OM Digital Solutions will be appropriately positioned to pursue new developments.

Head of sales and marketing, R&D and designing departments for imaging products will relocate to the new headquarters in Hachioji, Tokyo. Production will continue at the location in Dong Nai province, Vietnam, where imaging products are currently manufactured. OM Digital Solutions will continue to provide customer support for the imaging products which have been manufactured and sold by Olympus.

Our Sales, Admin Support, Customer Service and Marketing departments continue to provide support to our customers and ambassadors during the transfer process. We remain focused on the ongoing success of the imaging business and grateful to our customers for their passion, loyalty and support for our products.

 

For the Definitive Agreement details head to the link below


Q&A

 

Will the Olympus brand no longer be available for use? 

The new company will be using the Olympus brand from its establishment until the foreseeable future. There is no plan for use of the Olympus brand to be discontinued immediately after the transfer is completed.

  

Will repair and support services be affected by the transfer?

All services, repairs and warranties for products with the current Olympus brand will be fulfilled both during and after the transfer is complete. Services, repairs and warranties will continue, and customers will also be able to receive support for future purchases.

 

Are there any plans to change the warranty period due to the transfer?

We do not plan for the transfer to have any effect on product warranty periods. All services, repairs and warranties for products with the current Olympus brand will be fulfilled both during and after the transfer is complete. Services, repairs and warranties will continue, and customers will also be able to receive support for future purchases.

 

Is there a possibility that some products may be discontinued due to the transfer?

The sales of certain products are not expected to be discontinued due to the transfer.

 

Will products slated for sales launch in 2020 be postponed? 

There are no scheduled changes to new product launch plans in 2020 due to the transfer.

 

Will the transfer change strategy and product line-up?

There is no change to strategy and product line-up with a continued focus on innovation which is unique to the business. We are committed to new high-quality products and services.