Olympus Announces Sale of Imaging Business

Olympus Corp. has announced the intent to sell the Olympus Imaging Business to Japan Industrial Partners Inc. (JIP), due to losses experienced over the last three years, according to a statement from Olympus. The imaging business will continue to release Micro Four Thirds cameras and lenses under the Olympus and ZUIKO names.

Olympus signed a memorandum of understanding with JIP that said the companies are entering into further discussions about the potential transfer of Olympus’ long-standing imaging business to JIP by the end of the year. They plan to enter into a legally binding agreement by Sept. 30.