Ricoh Company, Ltd. today announced the establishment of PENTAX RICOH IMAGING COMPANY, LTD. as its wholly owned subsidiary on October 1, 2011.

Last July, HOYA Corporation transferred its PENTAX Imaging Systems Business to PENTAX Imaging Corporation, a newly established subsidiary of HOYA, through an absorption-type split (spin off) and business transfer. HOYA's transfered business include the developing, manufacturing and selling optical instruments such as digital cameras and replacement lenses, digital camera accessories, security camera-related products, and binoculars. Ricoh announced today that it has acquired all shares outstanding in PENTAX Imaging Corporation, as of today, completing the transaction. Ricoh also changed the name of the company at the same time.

By forming the new company, Ricoh will strive to further bolster consumer products and services, in addition to its existing digital camera business.