14 DAY TRIAL // In an unexpected press release, Hoya - well-known maker of lenses and filters - and Pentax, a highly respected name in the photographic industry, have announced that they will merge or, to be more precise, that Hoya will "absorb" Pentax.
Here's an excerpt from the official press release:
"HOYA CORPORATION ("HOYA") and PENTAX Corporation ("PENTAX") announced today that they have reached a basic understanding aimed at a management integration of the two companies, expected to be completed on October 1, 2007.
The new company's name will be HOYA PENTAX HD Corporation. Under a corporate center with strategic planning functions, the new company will realign the business areas of HOYA and PENTAX. HOYA and PENTAX have recognized that they are the best possible business partners to establish a solid business structure that draws on their respective strengths. Through this management integration, the planned new structure will allow the new company to swiftly allocate significant management resources to develop strategic business areas, aiming at accelerating future growth."
A natural question that comes to the mind of Pentax camera users and especially to the mind of DSLR users is what will happen to Pentax's imaging division after the merger.
There's good news for them. According to the same press release, in the imaging systems area, the newly founded corporation will be "continuing PENTAX's imaging systems division."
Another interesting consequence of the merger is that Hoya's optics division and Pentax's optical components division will join forces and improve their technologies.
The integrated firm will be managed through a committee system under Japanese Company Law to ensure strong corporate governance. The board will consist of 10 directors, five of whom will be non-executive directors, further reinforcing management transparency. Three of the executive directors will be appointed from HOYA and the others from PENTAX.
Fumio Urano (current PENTAX President & CEO) will become Chairman of the Board and Hiroshi Suzuki (current HOYA President and CEO) will become President & CEO.