The Japanese company Olympus plans to sell its imaging division. Like from one Message Olypmus signed a letter of intent with Japan Industrial Partners (JIP) to spin off Olympus’ imaging business into a new company. The shares are then to be transferred to a fund that is managed, operated or otherwise processed by JIP. After due diligence and further discussions and negotiations, the parties are aiming to sign a legally binding, final agreement for the transaction by September 30, 2020.
As Olympus explains, despite all the company’s efforts, the imaging business saw operating losses for three consecutive years until the end of the last fiscal year in March 2020. In these circumstances, Olympus believes that by spinning off the imaging business,
efficient and agile, which is why it is the most suitable way to achieve self-sustaining and continuous growth. Further details on the transaction are still pending. (luc)
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