Olympus (TYO: 7733) announced today that it has completed the separation of its Scientific Solutions Division into a wholly-owned subsidiary called Evident.
The creation of Evident — which encompasses life science research and industrial equipment — enables Olympus management to better focus on the continued growth of the company’s Medical Business, which made up 86% of revenue in the company’s 2020–21 fiscal year.
Headquartered in Japan, Evident will operate independently under the Olympus corporate umbrella. Olympus said the new Evident name exemplifies a commitment to providing high-quality products and technical expertise — and a renewed focus on customer collaboration and responsiveness to customer concerns.
“Evident, while continuing to provide best-in-class products, will expand its digital and cloud-based solutions to enhance the customer experience and to improve the overall workflow in the research and inspection fields,” said Yoshitake Saito, the president and representative director of Evident.
“We will shift from a business model centered on the sale of products to one focused on solving customer issues and challenges. With this greater management autonomy, we will promote agile product development and open innovation, which we believe will increase the speed of product development.”