Olympus Optical Co. Ltd - the global giant in Opto-Digital Technology and leading camera manufacturer, has successfully embarked yet another subsidiary in its global network in Singapore - Olympus Technologies Singapore Pte Ltd (OST) on 1st April 2000. OST earmarks the new business model of Olympus group - the first independent corporate research and development hub located outside Japan. Mr Liow Voon Kheong, Assistant Managing Director from Economic Development Board graced the company's inauguration h eld yesterday evening.

Tasked with the mission to spearhead innovative technological research and development, OST aims to provide world-class quality products with cost-effectiveness achieved through local production. Besides product design and development, it represents the core center of transferring cutting edge technology developed in Japan to contract manufacturers in the region. It will work closely with local affiliates to manufacture and sell barcode scanners and terminals, as well as other magnetic-optical devices a nd components.

OST's establishment signifies the watershed move by Olympus Optical Co. Ltd, blending the rich history of Olympus technological excellence with local culture to undertake high value-added R&D activities. It aims to generate premium quality products and to develop a strong management team of local talents. The new boy on the block is targeting a turnover of US$160 million over the next two years, with a staff strength of 40-50, comprising mainly engineers.

Regarding the move, Olympus director, Mr Koji Miyata cited : "We need to establish a new operation center covering low cost manufacturing, worldwide logistics and value-added product development and Singapore has been selected as the ideal site for such multi-functional center…. OST's management philosophy is to grow and flourish with the local society.

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Olympus Optical Co., Ltd., a leading provider of cameras, endoscopes and microscopes, has announced the establishment today of a new company in Singapore. Called OLYMPUS TECHNOLOGIES SINGAPORE PTE LTD (OTS), the new company will primarily be engaged in R&D and is expected to have approximately 40 to 50 employees-mostly engineers-in two years.

The total amount of investment during the two-year period is projected to be US$20 million. OTS will handle mainly imaging and information equipment for consumers and professionals, supplying its own brands as well as OEMs.

At first, OTS plans to manufacture and sell barcode scanners and terminals, Face Mounted Display (Eye-Trek), and magneto-optical devices and their components. The company will also strive to attract customers while engaging in product development in Singapore. It aims to achieve sales of US$160 million in the two years following its establishment.

Founded as a company with full capabilities to undertake all operational phases from development, design and production to marketing, sales and after-sales services, OTS will take initiatives in all aspects of business. As the company does not have its own manufacturing plant, it will rely on a strategic partnership with contract manufacturers (CMs) in Singapore for production.

Said Mr. Koji Miyata, Director and member of the board of OLYMPUS OPTICAL CO., LTD: "In the imaging and information field, in which global competition is intensifying, we will lag behind if the head office in Japan continues to be the sole control tower of operations. The ability of a local affiliate to conduct business in an intelligent manner becomes the key. OTS is a company that has been created to fulfil this requirement. "It is my hope that the new company operates in a manner that breaks the mould of conventional stereotypes. On the production front, OTS-an R&D-oriented company-aims to provide world-class quality products with cost-effectiveness achieved by local production through a partnership with first-rate CMs in Singapore. I expect the company to achieve an international presence as a business player based in Singapore."

Said Mr. Yoshihiko Masakawa, Managing Director of OTS : "To conduct business intelligently, it is imperative for us to draw on the well-developed business infrastructure and highly competent workers of Singapore. As a technological development-oriented firm, OTS will recruit top engineers and promote exchanges with Japanese engineers through training in Japan and technological transfer to create synergistic effects from such mutually stimulating interactions. We are deeply grateful to various offices of the government of Singapore, including the EDB (Economic Development Board), for kind assistance in the establishment of OTS."

Mr Liew Heng San, Managing Director of EDB, commented: "We are delighted that Olympus has set up its new subsidiary, Olympus Technologies Singapore Pte Ltd ("OTS"), in Singapore. Its plans to outsource its manufacturing in Singapore signifies its confidence in Singapore as a cost-competitive manufacturing hub. OTS is yet another example of a knowledge-driven company, undertaking high value-added R&D activities and generating high quality jobs. EDB welcomes OTS to Singapore and looks forward to a long and successful partnership. "

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