Olympus to Exit Camera Business After 84 Years


Olympus Corp. is getting out of the camera business after 84 years to focus on medical devices.

The Tokyo company, which has been under pressure from U.S. shareholder ValueAct Capital to improve shareholder returns, said Wednesday that it planned to sell its camera unit to private-equity firm Japan Industrial Partners Inc. It didn’t disclose financial details. The companies aim to complete their deal by the end of the year.

Source link