Tokyo, 24 August, /AJMEDIA/
Olympus Corp. is considering selling its microscope subsidiary to a U.S. private equity firm, aiming to rebuild its operations by letting go of its original business, a source familiar with the matter said Tuesday.
The major Japanese optical equipment maker, founded in 1919 as a microscope manufacturer, is expected to focus its financial resources on medical equipment following the sale of its science-centered subsidiary Evident Corp. to Bain Capital for several billion yen.
Since being battered by an investment loss cover-up scandal that came to light in 2011, Olympus has been struggling to restructure, eventually leading to the sale of its microscope unit, a field the company has been engaged in for more than 100 years.
Based in Nagano Prefecture, Evident, spun off from Olympus in April, has around 5,600 employees at home and abroad. For the business year through March 2022, it logged sales of 119.1 billion yen ($866.3) and an operating profit of 17.5 billion yen.
Olympus was established as Takachiho Seisakusho in a bid to become the first domestic microscope maker. The firm’s first product, called the Asahi, with 600 times magnification, was launched the following year.
