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Old May 24, 2007, 6:37 AM   #1
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Letter From HOYA to Me re: My Letter to them:

Hello*Mr. Kanarek,
*
Thank you for your*comment in regards to Hoya and Pentax merger.
*
It is still too early to talk about what will happen after TOB because we are still under discussion, but we*would like to let you know what we think about Pentax*camera business and our merger.
*
As you already know, Pentax is one of Japan's best-known camera makers with worldwide brand recognition and a nealy 90-year history, and*HOYA respects it*very much. We appreciate*Pentax's excellent technology,*products and brand. We believe that*two companies are the best partners and*by integrating both companies' skills and technologies, we can grow much bigger. That's the reason why*we are offering tender offer.
*
Hoya is a manufacuturer, not investors or fund managers. We do M&A in order to strengthen our business, not to chop them up and sell.*HOYA believes*Pentax will be able to continue inventing excellent*products*to meet its*customer needs, and we can support in many ways.
*
We are so glad to know that Pentax*is working with a talented artist like you. We'd*appreciate your*continuous support.
If there are any quesitons, please feel free to contact us anytime.
*
GHQ
CEO
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Old May 24, 2007, 8:00 AM   #2
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this is just lawyer talk. it doesn't say a d**n thing.

roy
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Old May 24, 2007, 8:44 AM   #3
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Hi,

It reads like a polite form letter. Basically continue using the product till we discontinue it. Then you will know our final decision...

Rudy
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Old May 24, 2007, 2:18 PM   #4
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I will admit to not being a particularly business savvy person, but considering the language interference (and setting my natural skepticism aside), the letter actually sounds rather encouraging. What does Hoya have to gain by discontinuing the Pentax camera business? By acquiring Pentax they are not eliminating competition, but diversifying, and the letter disclaims any venture capitalism motivations. Sony's acquisition of Minolta from Konica generated similar paranoia, but now seems not to have beenas destructive as first feared - the A100 actually seemsan improvement over the 5D on which it is based, and there are new, higher end products under development and soon to be released. Without a buyer, KM might have simply discontinued their money-losing camera business. Pentax was bleeding badly, too, so this mergermay actually save it! The Nikkon/Canon juggernaut has threatened to crush all dslr competition - Sony has the resources to compete in that field, and hopefully Hoya can do the samewith Pentax.
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Old May 24, 2007, 4:02 PM   #5
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I am pretty sure this is a standard canned response. I saw another letter on another website that pretty much was word for word.
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Old May 24, 2007, 5:38 PM   #6
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ishino wrote:
Quote:
I am pretty sure this is a standard canned response. I saw another letter on another website that pretty much was word for word.
I have no doubt they have had quite a few letters about this situation. The fact that they even to bother to respond at all, and to personalize each letter in this manner, may indicate that they are concened about the negative publicity and want to reassure the concerned public. Let's keep our fingers crossed.
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Old May 24, 2007, 7:04 PM   #7
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Agreed, the fact that they are concerned enough to respond at all is a positive sign.

Tim
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Old May 25, 2007, 4:34 AM   #8
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Quote:
Agreed, the fact that they are concerned enough to respond at all is a positive sign. Tim
second that - Ronny
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Old May 25, 2007, 6:35 AM   #9
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If they (HOYA) was certain that Pentax Camera Division was viable to them, and that business segment played a major part in their decision to aquirePentax, they would havesaid so. Someone should ask them about the Medical Division of Pentax and see if they get the same type of response. "We have a lot of respect for the Pentaxname in this market, butit's too early todecide yet what we will do with it. Yada yada yada." Give me a break, it's not like you went out and bought a blender for Christmas without knowing what you're going to do with it. Have we heard of any eminent release of new DSLR's? Their rebate program has now been expanded to the K10D. It seems to me to be the longest running rebate program I've seen amongst the players (Nikon, Canon, Olympus). Maybe they're just trying to dump their inventory.
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Old May 25, 2007, 1:23 PM   #10
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Far be it for me to try to read the Oriental mind, but that letter was not written by someone with English as a first language (perhhaps even through a translator), so it may not be fair to interpret it s intent entirely through our frame of reference.All this uncertainty may have slowed sales. $50 hardly seems like a dump, but more like an incentive to stimulate the market by spurring sales to people who have been deferring a purchase. Whether or not the response affects any decisions they might make remains to be seen.

It is hard to remain patient when one's interests seem threatened, but public paranoia only further depresses the market and plays into the hands of those who might be inclined to abandon the product. Demand must remain strong in order to ensure continuation of the line.
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