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Edition: U.S. Article Comments (0) Interactive Follow Reuters Facebook Twitter RSS YouTube Read Venezuela's Chavez says he was treated for cancer | 2:26am EDT Casey Anthony will not testify in murder trial 30 Jun 2011 Nearsightedness linked to serious eye disease 30 Jun 2011 Case against Strauss-Kahn near collapse: sources 2:56am EDT White House snubs McConnell invitation to Obama 30 Jun 2011 Discussed 99 Top Republicans insist no taxes in debt deal 85 White House snubs McConnell invitation to Obama 75 U.S. cost of war at least $3.7 trillion and counting Watched A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 Justin Wolfers on America's lost decade Thu, Jun 30 2011 Japan's Hoya to sell Pentax camera business to Ricoh Tweet Share this Email Print Related News UPDATE 5-Oracle hardware sales drop, shares fall Thu, Jun 23 2011 Panasonic sees annual profit down 11 percent after quake Mon, Jun 20 2011 Nikkei set to edge higher, 9400 likely hold Thu, Jun 16 2011 Tokyo Electric bailout plan approved by cabinet Tue, Jun 14 2011 BOJ boosts loans for growth sectors, affirms recovery view Tue, Jun 14 2011 Analysis & Opinion Is Groupon a savior or a destroyer? How the UK wants to deal with its biggest banks Related Topics Technology » Deals » 2011 Q2 » Global Deals Review - Parent folder » Inflows Outflows » Japan » Related Interactive Disaster in Japan Pentax digital cameras are displayed at a shop in Tokyo May 11, 2007. Credit: Reuters/Kim Kyung-Hoon By Mariko Katsumura and Kentaro Hamada TOKYO | Fri Jul 1, 2011 2:41am EDT TOKYO (Reuters) - Japanese optical glass-maker Hoya said on Friday it would sell its Pentax camera business to copier and printer maker Ricoh, in a deal the Nikkei business daily said was worth about 10 billion yen ($124.2 million). Battling falling prices for its compact cameras, Ricoh hopes to establish a presence in the profitable upmarket single-lens reflex camera segment, the Nikkei business daily said. The two companies will hold a news conference about the transaction at 0730 GMT. The deal will go through in October, Hoya said in a filing to the Tokyo Stock Exchange. Shares in Hoya ended up 4 percent at 1,845 yen, after climbing as high as 6 percent to 1,888 yen on the news, while Ricoh was down 0.2 percent, in a broader market climb of 0.5 percent. Hoya, which bought Pentax in 2007 mainly to gain access to its medical technology, had been widely expected to sell off the camera business. Pentax is the world's tenth largest digital camera brand by shipments, with just 1.5 percent of the market, according to research firm IDC. Sales of Pentax cameras dropped just over 13 percent in the year ended March 2011, amid fierce price competition in the compact camera market. Copier and printer-maker Ricoh, which aims to shed nearly 10 percent of its workforce to improve profits, also has a digital camera business, but sales are too small to feature in global data. (Additional reporting by Emi Emoto; Writing by Isabel Reynolds; Editing by Edwina Gibbs) Technology Deals 2011 Q2 Global Deals Review - Parent folder Inflows Outflows Japan Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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