Hoya outlines Pentax camera plans
/Chris Cheesman/
Pentax camera plans
Hoya has hinted at plans to cut digital camera production costs as part
of restructuring needed after completion of its bid for Pentax - a
process which formally begins today, July 3rd.
In a statement spelling out the challenges it faces Hoya said:
'Significant structural changes have occurred in optical equipment and
related materials since the emergence of digital cameras. Competitors in
Asia have grown rapidly and are expected to continue gaining market
share through low price campaigns and increasing the added value of
their products.'
The statement added: 'Along with existing optical manufacturers, home
appliance makers have also entered the digital camera market, further
intensifying competition in this area. In order to maintain growth in
this environment, it is necessary to distinguish from competitors by
reinforcing cost competitiveness by lowering production costs and by
increasing added value focusing on technologies.'
Hoya admits that a 'qualitative transformation' of its business
structure would be necessary to achieve this.
The statement, dated 2 July, continued: 'In optical equipment and
related materials we believe that, if the Target's [Pentax's] optical
design and processing technologies and the Tender Offerer's [Hoya's]
optical material development and precision processing technologies and
mass production capability of optical lenses are vertically integrated,
we could become the only optical manufacturer in the global market
having [sic] the ability of creating new optical module system products.'
Hoya is today expected to start its tender offer for more than 50% of
Pentax shares in a deal worth up to 105 billion yen which will make
Pentax a wholly-owned subsidiary.
Tuesday 3rd July 2007
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