Hoya has sold the Pentax camera division to Ricoh. The Pentax Imaging Systems Division will be spun-out as a new company and its shares transfered to Ricoh on October 1st. The deal will also include the Pentax camera manufacturing subsidiary in Vietnam. A public announcement from Hoya explains that Ricoh is looking to build a consumer cameras business and wanted Pentax's interchangeable lens camera technology, lens technology and sales channels. Its plans for the business specifically include the interchangeable lens camera market. Hoya will retain the other Pentax businesses, such as medical devices, that it gained in its 2007 takeover. Terms of the deal were not disclosed but Japanese business paper Nikkei Business Daily reports a price of about 10 billion yen ($124.2 million).

Click here to download Hoya's statement on the sale