Sony Corp. and Olympus Corp. set up a new joint venture Tuesday by merging their medical businesses, with an eye to marketing new endoscopes and other medical equipment within a few years.
Sony Olympus Medical Solutions Inc., Sony's consolidated subsidiary, plans to develop high-end medical devices that utilize three-dimensional technology and Sony's "4K" imaging technology that displays images four times finer than conventional high-definition resolution, the company said.
Toru Katsumoto, the president of the new company, said at a news conference in Tokyo that it will make the most out of the two companies' existing facilities and technology rather than making new investments.
The new JV will aim to secure a more than 20 percent share of the market for surgical endoscopes and related equipment by fiscal 2020, when the size of the market is expected to grow to around 330 billion yen.
The JV is owned 51 percent by Sony and 49 percent by Olympus.