TOKYO (Nikkei)--Pentax Corp.'s medium-term business plan released
Friday includes measures aimed at improving enterprise value, but the 
responses
of top shareholder Sparx Group Co. and suitor Hoya Corp. will
shape the outcome of the ongoing merger saga.

...

"We'll assess whether (the plan) can truly be realized," said Shoichi
Miyasaka, president and chief executive officer of Sparx Capital Partners 
Co.,
which serves as a liaison to firms in which the group has invested.

...

"The contents (of the business plan) are not wrong because they include
measures that business chiefs should pursue, but I don't see anything 
fresh,"
he said.  Also, Miyasaka cited a lack of transparency in Pentax's business
growth strategies.

...

and from another article...

Stock market participants appear unimpressed with Pentax
Corp.'s medium-term business plan unveiled Friday, saying that it offers
nothing new.

...

Many market players point out that Pentax previously sought to reorganize
unprofitable operations and focus on the three core business areas.

...

But digital cameras and endoscopes are fields where competition remains
intense.

...

"I'm a little skeptical about whether Pentax will be able to double its
operating profit by pursuing the same vein of previous strategies," says
Kunihiko Kanno at Credit Suisse Securities (Japan) Ltd.



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