OM Digital solution had the video removed yesterday. It was hosted by OM Digital Senior Manager Mark Thackara. The above summary was accurate based on my viewing of the video while it was still available.

I guess he leaked to much as the video was pulled.

In an interview with Asahi, the CTO of the newly-created OM Digital Solutions answered several questions about the company, its products, and its future.

“At least for the time being, we will use ‘Olympus,'” he said. “However, it is better to move away from Olympus as an entity or continue to work under the name Olympus? I want to think about it.”

“The background to this is the shrinking camera market. It is not only our company, but it is quite difficult to grow the company by increasing sales as it is. In order to generate profits, it is necessary to reduce costs and reform the structure for that purpose. Olympus is becoming more and more a ‘Medtech Company’, that is, a company centered on medical devices. Then, the manufacturing process as a medical device manufacturer will be strengthened, and the cameras business will have to follow it as a company rule.”

Now they tell 180 degrees opposite things from even previous summer.

“If the camera market shrinks, we will make products simpler, deliver them, and sell them to our customers. In order to create a structure that can do that, it is better to be independent of Olympus and to be able to do various things with our own difference so that we can continue our business,” he explains.

This is lie.

Japan Industrial Partners was an ideal candidate for the imaging acquisition given its history of restructuring businesses, according to Kataoka. “JIP is good at cutting out businesses from the company, turning them into the black, and revitalizing them,” he says.

JIP is best for killing businesses, this is that they do.

Kataoka promises new products are on the way by the end of the year.

At best it is rehash of same things that Olympus is doing for last 3 years. They don't have any people to do new LSI now and without this - no one can do anything.

Now they need to sell old stock and they have lot of it. In the process finally killing all service and marketing.

The CPplus show is accepting registration for the various events to be held in late February. One of the events is organized by OM Digital and they say that they will finally “talk about the future of OM-D”.

Dclife analyzed the current JIP situation and hopes the new OM Digital company will announce the new E-M1IV and PEN-FII at the CP+ show to prove their point. There may be also one or more new Macro PRO lenses.

Both cameras actually could be produced before sale in some amounts.

But LSI and all else are same old stuff, years old.

Destruction stage has begun

On January 1, 2021, we progress as OM Digital Solutions Corporation. In recent years, moves towards digitalization have accelerated in response to changes in the marketplace, and new technological developments are being made in a number of fields. At the same time, the sense of value is critical, and we believe that what is truly being sought right now is a fulfilling life.

During our business as the Imaging Division of Olympus Corporation, we contributed to society with products such as cameras, audio recorders, and binoculars. With the camera business in particular, we utilized original ideas when developing products. In the film era, we succeeded with the development of the unprecedented compact, lightweight design of the OM series of 35mm SLR cameras. We have inherited this passion and development philosophy in the digital age, leading to the Micro Four Thirds standard, and a compact, lightweight design, through the mirrorless OM-D series. In addition, we have developed various state-of-the-art technologies, including lens groups with high optical performance, world-class image stabilization, and the High-Res Shot function, delivering high resolution imaging to photographers everywhere.

It is our manufacturing capabilities that have supported this business. This has been accomplished through forward-looking insight, a challenging spirit, and close relationships with our manufacturing site. We will continue to launch innovative products in existing business areas such as cameras, audio recorders, and binoculars, while combining our inherited manufacturing capabilities with state-of-the-art digital technologies, and will provide new solutions that stretch beyond the boundaries of existing products on the market.

The launch of this new company brings together a more focused and flexible organizational structure. Moving forward, this will allow the freedom to explore new business opportunities, enabling us to contribute to society with more passion than ever.

Witness as parts of company will be closed step by step.

In less than 7 months Olympus remains will cease to exist, including service and anyhing material

This business is soon to be divested and therefore accounted for as ‘discontinued operation’ (= not consolidated anymore) but they are still reporting the corresponding figures.

They recorded an operating loss of ¥46bn in Q2 (July – September) and ¥48.6bn in H1 (April – September) and forecast a total operating loss of ¥53bn ($500m) until divesting the business to JIP.

See https://www.olympus-global.com/ir/data/brief/pdf/Olympus_Q1FY2021_Presentation_E.pdf

Headcount went down 30% in 6 months between 31 March 2020 (4,270 employees) and 30 September 2020 (3,031 employees). In Japan, less than 400 employees remain in the Imaging business.

Between the first half of FY2020 and the first half of FY2021, capital expenditures fell by half and R&D expenditures by 30%.

Q3 (October – December) business forecast is totally gloomy too:

Revenue: ¥6.3bn, down more than 50% in comparison to the same quarter last year after -43% in Q1 and -26% in Q2.

Operating loss: ¥4.5bn = 72% of revenue, even though all one-off costs should have been recorded in the Q2 accounts.

Inside Imaging is reporting that though the Olympus sub-brands like M.Zuiko, OM-D, and PEN were part of the acquisition deal between Olympus and JIP, the Olympus brand was not. The imaging assets were bundled under private equity operating under the name OM Digital Solutions, which notably leaves the Olympus branding absent.

Olympus brand will be used until all existing assets will be sold out. On next stage it is not required.

The economics certainly don't add up. 40 per cent lower sales again in the future will not provide finances for much R&D.

Influencers are always last to leave the sinking ship. They hope till the end that the dead milk cow will will rise again like Jesus. But no.