The two companies will become known as Hoya Pentax HD on 1 October, after the contract is signed in April.
The last major merger in this industry was between Konica and Minolta, who became Konica Minolta in 2003, and then handed everything over the Sony last year.
Pentax says that it needs support as it tries to increase its DSLR sales. “We were always aiming to expand our digital camera business, but it takes time. In the meantime we received a proposal by Hoya to cooperate in the medical area, where we foresaw potential for our growth,” Pentax president Fumio Urano said at a news conference.
Hoya is the larger of the two business, quoted at 4,510 yen on the Tokyo Stock Exchange, while Pentax was quoted at 690 yen.
