Olympus Corporation (“Olympus”) and Sony Corporation (“Sony”) today updated the status of the medical business venture company (the “medical business venture”) that has been the subject of discussions between the two parties, and which will be established in accordance with the business alliance agreement executed on September 28, 2012.
Olympus and Sony announced in the press release “Update on the Status for Establishment of Medical Business Venture Company between Olympus and Sony” dated December 21, 2012 that the companies aimed to establish the medical business venture by April 1, 2013, subject to customary closing conditions, including the receipt of any necessary regulatory approvals. The examination by the relevant authority is taking longer than expected, but we understand the examination process is currently in its final stage. Olympus and Sony expect to announce establishment of the medical business venture promptly after the establishment date is fixed.
Olympus and Sony continue to work together with the goal of creating ground-breaking products and solutions by combining their respective technologies and know-how through the medical business venture.