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February 26, 2002
Olympus Optical Co., Ltd. Establishes
Olympus Optical Technology Philippines, Inc.
New Company to Take Charge of Direct Management of Overseas Production
and Logistics of Microscopes
Olympus Optical Co., Ltd. (President: Tsuyoshi Kikukawa) has established a new wholly-owned subsidiary-Olympus Optical Technology Philippines, Inc. The company will start operations on April 1, 2002 and will be responsible for optimizing production of microscopes as part of Olympus's global scientific equipment division, and for strengthening management of production, procurement and shipments in Asia.
Currently, Olympus's scientific equipment division entrusts the production of moderately-priced microscopes to its local partners, Ina Micro Opto Co. (IMO) and Philippines Makoto Corporation. However, Olympus's Ina Plant in Japan has overall responsibility for production management, purchasing, technology, quality assurance and shipments. Transferring these supervisory functions to direct management by the new company is designed to strengthen overseas production function, improve cost competitiveness and optimize production of microscopes at the global level. The move is also intended to enhance efficiency in terms of Supply Chain Management (SCM) by upgrading the oversight function to allow integrated production, procurement and shipments at the local level in readiness for the expansion expected in Asian markets from now on.
At the moment, the Ina Plant manufactures moderately-priced microscopes at a rate of around 15,000 units per year (fiscal 2001 figures). Between now and March 2004, Olympus plans to gradually transfer these operations to its overseas partners, which will eventually handle everything from production through logistics under the supervision of the new company.
Overview of New Company
Name: Olympus Optical Technology Philippines, Inc.
Establishment: November 6, 2001
Operations begin: April 1, 2002
Representative: Akira Mukaiyama, Managing Director
Business: Handling orders for overseas production of microscopes and shipment, technical support, guidance and supervision of local partners, high-precision, technically difficult processing and assembly, procurement of parts from neighboring countries and development of suppliers, educating, training and development of local engineers and operators, etc.
Capital: 60 million Yen
Employees: 50
Location: Mactan Economic ZoneII, Lapu-Lapu City, Cebu, Philippines
Telephone: (Country code 63) 32-341-3160
Fax: (Country code 63) 32-341-3161
Details of Business
Under the supervision of the new company, Olympus Optical Technology Philippines, Inc., local partners will be responsible for manufacturing moderately-priced microscopes for the Olympus scientific equipment division. The Ina Plant will play a more creative role as a high-tech factory, manufacturing sophisticated, high-performance products and strategic products, as well as developing new technologies and improving its functionality. In this way, Olympus intends to accelerate the development of its business and maximize value-added.
Local Partners: Ina Micro Opto Co. (IMO):
President: Kiyoshi Masuda (Located in Cebu, the Philippines)
Jointly managed by three local companies from Nagano Prefecture.
Integrated production of moderately-priced microscopes for educational and laboratory use.
Philippines Makoto Corporation:
President: Ryuta Kobayashi (Located in Cebu, the Philippines)
Manufacture of components for moderately-priced stereomicroscopes and unit assembly parts, manufacture of objective and ocular lenses.
Others:
Approximately 10 companies (Located in Cebu, the Philippines)
Suppliers of parts and materials.
Technical Support:  Provision of Olympus Opto-Technologies Co., Ltd. staff and guidance to local partners for setting up production of new products and establishing the viability of operations (from procurement of parts and materials, processing and surface finishing, to assembly, inspections, quality assurance and shipments).
Parts Procurement:  Procurement of parts and materials from Asia neighbors and development of new suppliers, realization of local integrated production and enhanced cost competitiveness.
Logistics: Simplify logistical routes and reduce distribution costs using direct shipments from local plants to overseas destinations without passing through Japan.
*Olympus Optical Co., Ltd. was changed to OLYMPUS CORPORATION as of October 1, 2003.
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