Hoya would sell its Pentax camera business to Ricoh, in a deal worth about 10 billion yen ($124.2 million). Battling falling prices for its compact cameras, Ricoh hopes to establish a presence in the profitable upmarket single-lens reflex camera segment. The deal will go through in October.
Shares in Hoya ended up 4 per cent at 1,845 yen, after climbing as high as 6 per cent to 1,888 yen on the news, while Ricoh was down 0.2 per cent, in a broader market climb of 0.5 per cent.
