Pentax to sell HQ, drop some product lines?
By
Mike Tomkins
(Thursday, May 10, 2007 - 15:33 EDT)
A report from the online version of Japan's Yomiuri Shimbun newspaper reports that Pentax is planning to sell its headquarters propery and withdraw from certain business areas in an attempt to increase profits.
According to the article, said to be based on a Pentax management plan obtained by the newspaper, the company is to focus on three areas - cameras, medical equipment and optical components. It will withdraw from certain other areas such as manufacture of measurement equipment and printers, and sell both its Tokyo headquarters building and a research facility, totalling some 10,000+ square meters of land.
The property sales are expected to bring in some ¥12 billion with which to shore up the company's finances, and the headquarters functions would be transferred to other offices in Saitama and Tochigi prefectures. The research facility's staff would be transferred to a Pentax office in office in Mashikomachi, Tochigi Prefecture. A further medical research facility in Saitama Prefecture would be closed, and some US sales-related companies would be sold.
No layoffs are planned, with affected staff being transferred to other offices and business areas. The goal: to increase profits from the last fiscal year's ¥6 billion to ¥10 billion over the next three years.
Pentax has made no statement at this time, but the Yomiuri article predicts an announcement on Friday.
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