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Japan: Sony, Olympus joint venture finally sees China approval

By  |  April 4, 2013
Japan: Sony, Olympus joint venture finally sees China approval

A joint venture by Sony and Olympus, which makes medical equipment, will now proceed after the deal was delayed pending approval from China’s competition authority. The companies announced that they have now received all necessarily approval. Sony is investing $535 million into Olympus in efforts to increase its competitive stance within the medical equipment market. Olympus dominates about 70 percent of the sector, according to reports, despite being more well-known for its camera products. Additionally, while the two companies did not say which specific competition regulator was delaying the deal, sources confirmed to the media that it was China’s authority. The parties had originally planned to launch the venture on April 1.

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