According to Hoya’s spokespersons, Japan’s biggest optical glass manufacturer expect to hear the final decision from Pentax at the meeting on May 31. After the takeover agreement Pentax will become a full subsidiary of Hoya Corp. till the end of the year. Also TOB decision will mean the end of the short presidency of Takashi Watanuki as he and seven more Pentax board of directors members are planning to resign after the takeover.
The new board will consist of five members: one outside director, two representatives from Hoya and two from Pentax. According to Bloomberg, the major Pentax shareholder Sparx Group Co. promotes Nobuaki Tanishima from the Pentax’s corporate planning department and Ko Torigoe from the Imaging Division to be two new board members.
Assignment of Ko Torigoe, who has given interviews about K10D at the last year live shows in Japan (along with Hisashi Tatamiya), as a board member is undoubtedly a good sign. As well as answers that were received by Benjamin Kanarek, Don Douglas and, I guess a lot of other Pentaxians who have sent their concerned emails to Hoya. Here’s some very optimistic quotes:
As you already know, Pentax is one of Japan’s best-known camera makers with worldwide brand recognition and a nealy 90-year history, and HOYA respects it very much. We appreciate Pentax’s excellent technology, products and brand. We believe that two companies are the best partners and by integrating both companies’ skills and technologies, we can grow much bigger. That’s the reason why we are offering tender offer.
Hoya is a manufacuturer, not investors or fund managers. We do M&A in order to strengthen our business, not to chop them up and sell. HOYA believes Pentax will be able to continue inventing excellent products to meet its customer needs, and we can support in many ways.