| February 6, 2002 |
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OLYMPUS OPTICAL CO. LTD.
DOMESTIC PLANTS CONSOLIDATED
AS PART OF IMAGING BUSINESS REORGANIZATION
"OLYMPUS OPTO-TECHNOLOGY CO. LTD." NEWLY ESTABLISHED |
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| * This news release is only for the Japanese market. |
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| Olympus Optical Co. Ltd. (President: Tsuyoshi Kikukawa) will consolidate three domestic production centers - Olympus Opto-Electronics Co. Ltd. Tokyo Plant, Ohmachi Olympus Co. Ltd. and Sakaki Olympus Co. Ltd. and some functions of the parent company, Olympus Optical, into the newly established "Olympus Opto-Technology Co. Ltd." The new organization will begin operations on April 1, 2002. Olympus Opto-Technology will be headquartered in Okaya, Nagano and will be responsible for production technology development and manufacturing development with an overriding mission to bring further cost competitiveness to the production side of the imaging business. |
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| Olympus Optical has scheduled a full reorganization of its imaging business for April 1, 2002. As part of this process, three domestic production operations will be consolidated with the digital camera production and component development and manufacturing functions of parent company Olympus Optical Co., Ltd., which are now located separately at Tatsuno Plant in Nagano and Technology Research Institutes in Hachioji, Tokyo. The three domestic operations to be consolidated are: the Tokyo Plant of Olympus Opto-Electronics Co. Ltd., Ohmachi Olympus Co. Ltd., and Sakaki Olympus Co. Ltd. They will form a new company called "Olympus Opto-Technology Co. Ltd." The new company will be charged with adding new value to the manufacturing and technology development sides of Olympus' imaging business. In other words, it will have responsibility for the "creative" side, including the creation of new value-added businesses, the development of new technologies, and the advancement of innovative manufacturing technologies and production management techniques. The "manufacturing" side will be handled by "Olympus Hong Kong and China Ltd.," which aims to become the most cost competitive operation in this industry anywhere in the world. Olympus Optical looks to the reorganization to accelerate its business development and maximize its added value by clearly delineating the roles and responsibilities of "creative" production and technology development in Japan. |
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| Profile of new company |
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| Name: |
Olympus Opto-Technology Co. Ltd. |
| Establishment: |
April 1, 2002 (Projected) |
| Operations begin: |
April 1, 2002 (Projected) |
| Representative: |
Tetsuhiko Takei |
| Business: |
Manufacturing of cameras and other optical equipment, recorders and other office equipment, and lenses and prisms for optical equipment; plastics molding and processing; mold design and fabrication etc. |
| Capital: |
110 million yen |
| Employees: |
Approximately 700 |
| Head office: |
3-15-1 Osachi-shibamiya, Okaya, Nagano, Japan 394-0083 |
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*Olympus Optical Co., Ltd. was changed to OLYMPUS CORPORATION as of October 1, 2003.
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