Olympus has released a statement confirming the sale of its imaging division to Japan Industrial Partners (JIP) Inc. The division, which covers the former’s camera business, will be handled by a new corporation under JIP Inc known as OM Digital Solutions, effective 1 January 2021.
The press release also noted that the final transfer of Olympus’ imaging business to JIP, based on the agreement both parties signed on 30 September 2020, has concluded. OM Digital Solutions will take over and resume the camera business operations from its Japan office, with former Olympus executive Shigemi Sugimoto appointed as the company’s CEO.
Meanwhile, the business’ Research and Development department as well as Sales are to be relocated to the OM Digital Solutions building in Hachioji-shi, Tokyo. Production of equipment, on the other hand, will take place at company factories in Dong Nai Province, Vietnam.
Through OM Digital Solutions’ official website, Sugimoto explained that the name “OM” pays tribute to Olympus Maitani (OM) System that was introduced in 1972 which revolutionised the company’s camera design. He added that the name also “embodies the posture of always challenging difficult situations, and developing new products and technologies.”
“We are now independent from Olympus Corporation and have taken a new step forward as OM Digital Solutions Corporation,” the CEO stated in a statement issued on OM’s website. “We aim to contribute to the realisation of fulfilling lives of people.”