After Olympus also JIP is reacting to the negative press to try to calm the waters:
Regarding Olympus Imaging Business Transfer
Olympus Corporation (“Olympus”) and Japan Industrial Partners Inc. (“JIP”) signed a memorandum of understanding on June 24th regarding the carve-out of Olympus’ Imaging business to a new company (the “New Imaging Company”) and the subsequent transfer of its shares from Olympus to funds managed, operated and advised by JIP.
Founded in 2002, JIP, a leading private equity firm based in Tokyo, specializing in corporate carve-out investments, targets revitalization of traditional businesses in Japan and has provided capital and management support to businesses carved out from established companies.
JIP’s investment principle is to realize potential growth opportunities by making maximum use of existing business foundation and technologies that the investee companies and businesses have. JIP believes that by delivering value-added products and services to customers and by building an attractive company for employees, the business will be able to realize its full potential and seek growth opportunities.
The New Imaging Company would assume and build growth strategy around the renowned Zuiko, OM and other brands, featuring optical and lens technologies developed and cultivated by Olympus over decades. Assuming the R&D and manufacturing frameworks, the New Imaging Company would commit to deliver high quality and reliability products and services to the Olympus customers around the globe.
On July 2nd, Olympus made a global announcement regarding the latest M. Zuiko Digital Lens roadmap. The lens introduction plans presented in this roadmap will continue to be carried out even after the business transfer occurs.
New product development for each product category within the Imaging business will continue and we will keep you up to date as we make progress.
Olympus and JIP will make all necessary preparations for a smooth transfer of the Imaging business, and JIP is committed to make maximum efforts so that the new company will increase its presence within the global market as a vibrant and energetic venture.
If someone can give an example where a JIP acquired company “increased its presence within the global market as a vibrant and energetic venture.” please comment on this post! Because I haven’t found anything positive about their track record yet…