OREANDA-NEWS. August 16, 2011. HOYA Corporation (“HOYA”) announced that HOYA and Ricoh Company, Ltd. (“Ricoh”) had executed an agreement to transfer HOYA’s PENTAX Imaging Systems Business to Ricoh. HOYA will effectuate this transfer by incorporating PENTAX Imaging Corporation (“PENTAX Imaging”) on July 29, 2011 to succeed the PENTAX Imaging Systems Business by way of a corporate split, and transfer all shares of PENTAX Imaging to Ricoh as of October 1, 2011 (Estimated), reported the press-centre of HOYA. 

HOYA announces partial modification and execution of the corporation of the corporate split agreement determined by the President and CEO as follows.

This release is only a progress report of such split and transfer, and the Imaging Systems Division of HOYA continues its business until October 1, 2011(Estimated).

1. Details of allotment pursuant to split:
(After the modification)
New Company (PENTAX Imaging) will issue 1 share to HOYA pursuant to the corporate Split.
(Before the modification)
New Company will become a wholly-owned subsidiary of HOYA. Therefore, New Company
will not issue shares or make any payments to HOYA pursuant to the Corporate Split.

2. Timeline for the Split/Transfer
August 10, 2011: Decision by the President to approve the corporate split agreement
August 10, 2011: Execution of the corporate split agreement
October 1, 2011 (Estimated): Effective date of the Corporate Split
October 1, 2011 (Estimated): Transfer date for PENTAX Imaging shares.