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RE: [OM] What Is Olympus Corp Doing?

Subject: RE: [OM] What Is Olympus Corp Doing?
From: "Piers Hemy" <piers@xxxxxxxx>
Date: Thu, 9 Jan 2003 21:53:40 -0000
Here is the announcement - there are no details yet.

===============================================================
Konica, Minolta Plan Merger Amid Rivals' Digital Pressure --- Japanese
Camera Makers Intend to Establish Terms Of Transaction Next Week
By Jason Singer and Robert A. Guth
01/08/2003
The Wall Street Journal Europe
Page A9
(Copyright (c) 2003, Dow Jones & Company, Inc.)

TOKYO -- Two midsize Japanese camera and photocopier makers, Konica
Corp. and Minolta Corp., said they plan to merge, as competition from
bigger companies in the digital-imaging business puts pressure on
smaller firms.

Spokesmen said the two companies haven't decided on specific terms of
the transaction. Company executives said the two companies would form a
holding company called Konica Minolta Holdings Inc. in April, and
combine operations by October. Konica shareholders would acquire Minolta
shares at a ratio to be determined next week, the executives said.

Konica, which also is the world's third-largest maker of photo film
after Fuji Photo Film Co. and Eastman Kodak Co., and Minolta, a leading
maker of single-lens reflex cameras, have had an alliance in the
research and development of photocopiers since April 2000.

The merger talks are a sign of the challenges facing traditional camera
makers that haven't kept pace with the advent of digital photography.
Konica and Minolta, with strong film-camera operations, have trailed
digital-camera leaders Sony Corp., Canon Inc. and Fuji Photo Film. In
addition, though both Minolta and Konica in recent years have pushed
into the office-equipment market, they haven't dented the lead of larger
brands, namely Canon, the leading Japanese maker of copiers and
printers.

Minolta and Konica executives said they hope a merger will yield
economies of scale that would allow the merged company to better
compete. The new entity aims for sales of 1.3 trillion yen (10.43
billion euros) and operating profit of 150 billion yen in the year
ending March 2006. The two companies now have combined revenue of
slightly more than one trillion yen.

Within two years, the merged company will cut staff by 4,000 people from
the current 38,500, the executives said.

===============================================================

-----Original Message-----
From: owner-olympus@xxxxxxxxxxxxxxx
[mailto:owner-olympus@xxxxxxxxxxxxxxx] On Behalf Of John Hermanson
Sent: Thursday, January 09, 2003 9:29 PM
To: olympus@xxxxxxxxxxxxxxx
Subject: Re: [OM] What Is Olympus Corp Doing?


Minolta always stuck in my mind as being the bigger of the two.  Guess
not. If we haven't already recycled the paper, I'll do my best to find
it. _________________________________ John Hermanson  www.zuiko.com
Camtech, Olympus Sales & Service since 1977 21 South Lane, Huntington NY
11743-4714 631-424-2121 For Free Olympus manuals, please call
1-800-221-3000 _________________________________
----- Original Message -----
From: <dolphans1@xxxxxxx>
To: <olympus@xxxxxxxxxxxxxxx>
Sent: Thursday, January 09, 2003 12:54 PM
Subject: [OM] What Is Olympus Corp Doing?

snip

> have not read the official terms of the deal. If you have a copy of
> that report
> or article, please forward it to this board. I'm very much interested

snip

> Thanks,
>
> Samuel Morales
>



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