Pentax scraps merger with Hoya, picks new president

Pentax scraps merger with Hoya, picks new president

TOKYO, Japan - Takashi Watanuki, 54, a former corporate vice president who was appointed president of camera maker Pentax Corp. on April 10 following a boardroom power struggle that ended with the ouster of Fumio Urano as company president. Urano had pushed for a merger with Hoya Corp. Pentax says it has given up on a planned merger with Hoya, following opposition from some of its major shareholders and discord within its management team. (Kyodo)

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