|July 6, 2004|
|Olympus Corporation (President: Tsuyoshi Kikukawa) anticipates further expansion of the Chinese market and has moved to expand its sales of endoscopes and biological microscopes in China by absorbing its local sales agency in China and establishing Olympus (Beijing) Sales & Service Co., Ltd. in Beijing. The new company commenced operations on July 1, 2004.|
|China's growth is conspicuous even among the rapidly growing markets of Asia. Olympus has established production, marketing and sales subsidiaries for its consumer products, including digital cameras, and is achieving substantial sales growth through full-scale direct selling in China. The potential for sales growth is not limited to consumer products, and Olympus also anticipates major expansion in the demand for endoscopes and biological microscopes. It has moved to build a stronger service structure in China by establishing Olympus (Beijing) Sales & Service Co., Ltd., which commenced operations on July 1.|
|Olympus first moved into the Chinese market for endoscopes and biological microscopes 40 years ago. Since then it has conducted sales and service activities in China through its agency. Recently Olympus absorbed its Chinese agency and switched instead to a system capable of supporting direct selling, service and marketing activities. Olympus (Beijing) Sales & Service Co., Ltd. has 400 staff and 24 offices. This initial structure will be progressively expanded. The company aims to increase its sales from approximately ¥5 billion in the previous fiscal year to around ¥22 billion over the next three years (by fiscal 2006).|
|Customer contacts will be strengthened through field services, including equipment maintenance and inspections. Olympus aims to raise customer satisfaction with its products by providing prompt, high-quality service. It also plans to carry out dynamic marketing activities targeted toward market expansion in the medium-term and long-term future. Through these initiatives, Olympus hopes to contribute to the advancement of medical and scientific research in China.|
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