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OPEN LETTER FROM HOYA TO VALUED PENTAX CUSTOMERS AND PARTNERS

July 1, 2011

Dear Valued PENTAX Customers and Partners,

We would like to hereby inform you that we, HOYA Corporation, have made an agreement regarding the business transfer of our PENTAX Imaging System Business to RICOH Corporation today, July 1, 2011.

The effective date of the business transfer is set for October 1, 2011. The business areas to be transferred as PENTAX Imaging System Business are digital cameras, interchangeable lenses, digital camera accessories, binoculars and security-related products, including R&D, design, manufacturing and sales for those product categories.

PENTAX Imaging system business will be succeeded by a newly established company scheduled on October 1, 2011, and then RICOH Corporation will acquire 100% of its stock right after the establishment.

No operational changes of PENTAX Imaging System Business are anticipated for the time being by making this agreement. All employees will be transferred to the new company accordingly. Also, all current products will continue to be sold with the PENTAX brand name under current operations.

PENTAX, under the guidance of RICOH, will continue with our best effort to grow and evolve our business and partnerships and deliver quality products and services designed for a high level of customer satisfaction.

Again, we appreciate your continued support of PENTAX.

Thank you very much.

Best regards,

Toshiaki Iue,

President

PENTAX Imaging Systems Division