PetaPixel

Hoya Founder’s Grandson Calls Pentax Acquisition One Of Company “Failures”

According to  Hoya founder Shigeru Yamanaka’s grandson, Yutaka Yamanaka, Hoya’s acquisition of Pentax may not have been the best business move. The younger Yamanaka said the $1 billion acquisition in 2007 was made mostly to expand Hoya’s involvement in medical optics, but turned out to be “overpriced.” Yamanaka, a Hoya shareholder, went so far as to say it was one of Hoya’s business “failures” which led to financial turbulence over the last three years until Pentax turned profitable.

In spite of Yamanaka’s disapproval of the Pentax purchase, it’s rumored that other companies might be interested in buying up Hoya’s unwanted acquisition. Canon Rumors reports that Canon attempted to buy Pentax, perhaps in order to control more of the DSLR marketshare, in direct competition with Sony. Sony may also be interested in Pentax’s user base. But so far, no word on whether Hoya’s ready to hand off Pentax anytime soon.

(via Bloomberg)