Sony Corp to Form Business and Capital Alliance with Olympus Corp

Sony Corp announced that it has decided to form a business and capital alliance with Olympus Corp. Through the business alliance, the two companies will collaborate in the medical business through establishment of a joint venture in December 2012. Sony Corp and Olympus Corp will each hold a 51% and 49% stake in the joint venture. The two companies will also collaborate in the camera business through the provision of camera parts to each other. Through the capital alliance, Olympus Corp will issue 21,287,900 shares on October 23, 2012 and will issue 13,100,000 shares on February 28, 2013, at the price of JPY 1,454 per share to Sony Corp through a private placement. As a result, Sony Corp will become the top shareholder of Olympus Corp with 11.46% voting rights.