Today Olympus Japan announced the split of the camera business to JIP, details are still being agreed. The timetable is scheduled to reach agreement by 30 September 2020 and complete the transaction by 31 December 2020.
Here’s what Olympus officially said:
Today, Olympus AG (“Olympus”) and Japan Industrial Partners AG (“JIP”) signed a confirmation of intent for the transfer of imaging business. The two sides have reached an agreement to complete the transfer of Olympus’ imaging business, which has a long history of digital cameras and IC recorders, by the end of 2020.
Thank you for your support and enthusiasm for photography for Olympus products. We believe this transfer agreement is the right step towards maintaining the value of brand assets, technologies and products, as well as the best choice for new and existing customers and photography enthusiasts who have supported Olympus products over the years.
Olympus and JIP will continue to discuss the follow-up while providing full disclosure to stakeholders.
The imaging business will continue to operate as usual in China. Sales, Services, and Marketing will work together to launch proposals and new products that meet our customers’ interests.