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.