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Pentax Corporation Establishes New Subsidiary 7.2.04

July 2, 2004
Pentax Corporation has created a new subsidiary, PENTAX Industrial Instruments Co. Ltd. as the corporation's mid-term business reform plan.

PENTAX Precision Co. Ltd. (Survey Division) announced that Pentax Corporation has created a new subsidiary, PENTAX Industrial Instruments Co. Ltd. as part of PENTAX Corporation's mid-term business reform plan. In creating this new company, PENTAX has merged its existing Business Systems Division with its Surveying Instruments Division (PENTAX Precision Co. Ltd.). This move has been made to further harmonize PENTAX's research and development program, grow its industrial product offerings and improve overall company efficiency in this sector.

PENTAX Industrial Instruments Co. Ltd. began trading on July 1, 2004. As the new company will incorporate the activities of the current Surveying Instruments Division, PENTAX Precision Co. Ltd. ceased trading as a business unit on that date. Mr. Teruyuki Kakeda, the current President of PENTAX Precision Co. Ltd., assumed the position of president of the new company.

The objective of the mid-term business reform plan has been to develop business strategies that better match PENTAX's technological infrastructure with its revised management practices. The plan will implement the business strategies required for company "˜Growth and Expansion' over the next three years. PENTAX will increase overall investment in research and development, with a particular focus on industrial and surveying technologies. In addition, PENTAX's alliances with major universities and research institutions will be strengthened and financial and technological assistance will be provided to promising venture businesses.

Source: Pentax, June 30, 2004