As the first Japanese company to commercialize a single-lens reflex camera for 35mm film, Pentax Corp. has a storied history. But that history may have prevented it from advancing into the digital age and delayed a crucial decision to be absorbed by Hoya Corp. for its own survival.
Pentax employees are more like artisans than cost-conscious businesspeople, explained Ryosuke Katsura, a senior analyst at Mizuho Securities Co.
"They believe good products should naturally sell well, and care less about such things as cost-benefit performance," Katsura said.