Post by logik360 on Feb 5, 2013 15:39:46 GMT -5
Asia Optical is clearly behind both licensing deals. General Imaging and JK Imaging are simply fronts to an extensive network of Asian companies (OEM/ODMs, exporters, holding companies, banks, and venture capital companies). What I am going to lay out here is complicated and I cannot begin to list the details of everything that I have learned, but the gist of it is here. Please research these leads and I’m sure you will come to the same outcome.
What does this have to do with Kodak? I needed to resolve, with some degree of certainty, that an entity other than an unknown start-up was involved in acquiring Kodak’s brand, which I believe is still a very important asset. I now know that the Kodak brand is in very capable hands.
My research has followed two fronts.
1) Media & Taiwanese Sources
The first front involves information obtained from a direct source who happens to be an editor of a well-recognized digital imaging publication. He, in turn, has a source in Taiwan that is well-connected in the Digital Still Camera (DSC) industry. The Taiwanese source revealed that Asia Optical is behind the licensing of GE and Kodak brands - PERIOD. AO’s Chairman Robert Lai (AKA Mr. Lai I-Jen), the man seen holding the white S1 camera in the recent Kodak press conference, is the key figure behind these deals. Lai is the founder of AO and has served as both its president and chairman. Lai serves on many BODs and is unbelievably well-connected in Chinese, Taiwanese, and Japanese imaging businesses.
JK Imaging and General Imaging are fronts intended to ‘legitimately’ obscure Asia Optical’s traditional role as EOM/OMD for other brands Over the past few years, AO has moved away from reliance on traditional OEM/ODM deals involving strictly IP licensing into deals that involve brand licensing. Apparently this model was preferred due to the expense in IP licensing (the recent Kodak-AO court ruling exemplifies this). Apparently OEM/OMDs have also taken hits in licensing IP from GE and others. Furthermore, in its traditional role as OEM/ODM Asia Optical is able to extract only 2-3% of margin, a tough go in an industry that is very demanding with respect to R&D and capitalization. In the past Kodak and other brands would use multiple EOM/ODMs. But the brand licensing model now preferred by AO strikes up an exclusive deal between one manufacturer and several brands (i.e. Kodak, GE, AGFA, Pioneer). Apparently, AO wanted Olympus as well, but its board turned them down. This approach turns the previous OEM/ODM model on its head. It probably replaces, or significantly reduces, the IP licenses with ‘brand licenses’ which is unit-driven, royalty-driven.
GE does not own a stake in General Imaging. It is only interested in the licensing deal and apparently it is doing fairly well. Due to the high initial investment and expenses related to industrial design, tooling, R&D, testing, QA, assembly, worldwide marketing & distribution, etc., it simply does not make sense for GE. Kodak tried to make a go of it, but it too realized there is a better way….brand licensing. These brand licensing deals are win-win scenarios. Clearly it is less expensive for AO; and AO now has much greater control of all aspects of design, manufacturing, marketing, and distribution. AO already had a massive manufacturing infrastructure involving every aspect of DSC design, manufacturing, and supply chain logistics. Research AO and its investments and you will see that it owns all or part of everything necessary to make a quality DSC… cost effectively. You should note that in 2010 Asia Optical acquired a majority stake in Taiwan Ricoh’s lens division thereby increasing its capabilities in lens/optic manufacturing. This is key if you are going to make a camera cheaply.
Another matter shared by the Taiwanese source is an important one. AO would like to run with Japanese styling and it shows. There is a hint that Kodak Japan design team might come along with the deal – but this much I have not confirmed. The short of it is this: AO loves the Kodak brand and AO feels that it has much greater potential than the GE brand. Regardless of what happens to the GE-branded camera, AO feels that the Kodak brand has legs with emerging markets. Combine this with the plans to incorporate some very exciting “Japanese” styling and you have a real winner. Lai knows this and I would bank on his expectations on how this will play out. By the way, some of the camera styles that were revealed in the recent press conference are prototypes… vastly new styling is expected.
My research has hinted at the above for some time, but I was unable to accept the audacity of AO’s move until it was explained by the Taiwanese source. I am very appreciative of this information. Still, I required further information to substantiate these claims; and so I went down even more rabbit holes.
2) Rabbit Holes: Financial Ties & Circumstantial Evidence
The sensitive nature of AO’s traditional OEM/ODM relationships since the mid 1990’s required the complex web of businesses that I will outline below.
AO has 100% ownership of a company called Richman International Group (RIG) located in the British Virgin Islands. RIG owns a 5% stake in Yorkey Optical International (Cayman) which in turns owns 100% of Yorkey Optical Technology (Samoa). Yorkey Optical International Cayman Ltd. operates as an investment holding company, which engages in the production and sales of components for optical and opto-electronic products. Its products include precision pressing parts, plastic injection moldings, coating and printing, molding technologies, and camera cases. The company was founded in December 1995 and is headquartered in Hong Kong. Yorkey Optical Technology is described as “investment holding and trading of plastic and metallic parts and components of optical and opti-electronic products”.
Note that AO owns only 5% of Yorkey Optical International (Cayman). The remaining is owned as follows (the exact stakes may have changed since the 2006 International Offering). By the way, each reference below to “BVI” stands for “British Virgin Islands”.
Ability Enterprise BVI (BVI): 24.75%
Asia Promotion (BVI): 30.25%
Fortune Lands (BVI): 15%
Public: 25%
The above is referenced hereafter as the ‘Yorkey-Consortium’
Stay with me here. Yorkey Optical Technology (Samoa) owns (100%) of the following:
Click Away (BVI) - Provision of technical training and after sales services
Dongguan Yorkey (PRC) - manufacture and sale of plastic and metallic parts and components of optical and opti-electronic products
Bioamazing (BVI) - Provision of research technical support services
The point of listing these companies is to show not only the complexities of these arrangements (intended, in part, to obscure) but to also show the infrastructure currently in place to support the GE and Kodak deals (as well as the AGFA and Pioneer deals).
If you would like to see this all presented visually, just go to the following resource (page 70; or page 77 of the PDF file):
globaldocuments.morningstar.com/documentlibrary/document/50de14b5e00a4218.msdoc/original
The above document contains some very compelling information. I urge all to read it. Here are some excerpts from the above document that will help you see AO’s motivation and the motivations of others with the Yorkey-consortium (referenced below as the “Group”):
Asia Optical was incorporated in Taiwan in 1980 and its shares have been listed on the
Taiwan Stock Exchange since August 2002. Asia Optical was founded by its president,
Mr. Lai I-Jen, in 1980 and is a manufacturer of optical components, finished optical and
opto-electronic products, cameras, DVD pick-up heads. Asia Optical is also engaged in
the development and manufacture of lens units and modules of finished photographic
products such as cameras.
The customers of Asia Optical and its subsidiaries include Bushnell Corporation, Canon
Inc., Hewlett-Packard Company, Hitachi Ltd., Eastman Kodak Company, Nikon
Corporation, Olympus Optical Co., Ltd., Pioneer Electronics Inc., Ricoh Co., Ltd., and
others.
The Directors believe that the investment of Asia Optical through Richman International
as a strategic investor of the Group is beneficial to the business development of the
Group by enhancing the strategic alliance and good relationship with one of the major
customers of the Group. The strategic value arising from the strategic alliance between
the Group and Asia Optical is as follows:
The Group is mainly engaged in the manufacture and sale of plastic and metallic parts
and components of optical and opto-electronic products, such as DSCs and traditional
film cameras, which is an industry characterized by rapid environmental change and
keen market competition. The Group has established its customer base by the provision
of high quality products for years. Nevertheless, as stable acquisition of purchase orders
from customers is one of the crucial factors in maintaining long-term business growth,
the Group dares not disregard competition from other competitors. Therefore, to upgrade
the degree of the stability of long-term purchase orders, the Group invited Richman
International, a subsidiary of the Group’s major customer, Asia Optical, to become the
Shareholder at a discounted price. Although the proceeds received from issuance of
Shares will decrease to some extent, the Group believes that such strategic alliance will
significantly benefit the long-term development of the Group and the shareholders’
interests.
Asia Optical’s contribution to the Group’s revenue:
1. In 2004, the Group’s profit amounted to US$11,193,000. 25% of the amount
contributed by Asia Optical, which equaled to US$2,800,000. Therefore, invitation
of Asia Optical to become a Shareholder, the cooperation between Asia Optical
and the Group would be consolidated and long-term growth of shareholders interest
secured.
2. The introduction of Richman International will help the Group to acquire more
purchase orders from Asia Optical, which will significantly upgrade the operation
and the equity value. Based on Asia Optical’s contribution of a revenue of
US$17,000,000 revenue to the Group in 2004, if the purchase orders from Asia
Optical increase by 10% to 15% annually, the Group’s revenue will increase by
around more than US$2,000,000.
Consequently, the potential benefit of Asia Optical’s participation via its subsidiary far
exceeds the discount offered for its participation.
The Financial “Smoking Gun”:
General Imaging Company and JK Imaging are private companies so we may never discover a direct funding link. I did learn from a Japanese publication, which was poorly translated, that private equity and venture capital were involved in GI’s start-up. The same source stated that GE capital was NOT involved. Mike Feng, GI’s current president, has significant experience in venture capital. He was the former partner of InveStar Capital, Inc (based in LA, California, but comprised of American-Taiwanese partners).
www.investar-cap.com/partners/partners.htm
The point is that there are a hundred different ways in which money could flow either directly from one of the Yorkey-consortium members, companies owned by Yorkey Optical Technology (Samoa), or investors and holding companies in China/Taiwan.
Here are some interesting Chinese connections:
China Development Industrial Bank through CDIB Capital (America) Stocks Limited and CDIB Global Markets I Stocks Limited has significant holdings in Yorkey Optical International (Cayman) (25% of YOI is publicly-owned) www.cdibank.com/other/B836-f.pdf
China Development Industrial Bank also has a 5% stake in InvesStar Capital. www.cdibank.com/other/B836-f.pdf
InveStar is also “partnered”: with SinoPac Bank; likely through SinoPac BanCorp (a California-based holding company). www.investar-cap.com/partners/partners.htm
The corporate registration entity for JK Imaging was Chen & Fan Accountancy Corporation, a firm with rich Chinese and Taiwanese ties. Chen & Fan is partnered with Crestridge Consulting, www.crestridgeconsulting.com/index.php/default/contents/aboutus
Some more miscellaneous facts:
a) Mr. Lai, I-Jen, was/is a non-executive Director of Yorkey Optical International (Cayman).
b) Asia Promotion Optical Inc., a company incorporated in Taiwan and is owned as to 42% by Mr. Liao, an executive Director, as to 8.3% by Mr. Lai Hsien-Tang, the brother of Mr. Lai I-Jen, a non-executive Director, and hence a connected person of the Company
****Update: As of November 2012, Asia Promotion Optical sold shares to AO, which now owns 27.4% of the issued
share capital of Yorkey Optical Internation (Cayman).
Read more: kodak.boards.net/index.cgi?action=display&board=general&thread=3706&page=1#ixzz2KFOPvQyQ ****
c) Lai serves on the BOD of the following companies: Asia Optical Co., Inc., Powerlink Electronic International Ltd., Yorkey Optical International Cayman Ltd., Dongguan Ricoh Eleme Office Machine Co., Ltd., Asia Optical International Ltd., Dongguan Sintai Nuosi Precision Optical Machine Co., Ltd., Toyo Optics (shenzhen) Co., Ltd., Taiwan Top Optical Co., Ltd., Sintai Optical (shenzhen) Co., Ltd., Pioneer Nobuyasu (dongguan) Optical Co., Ltd., Worldview Technology Corp., Sintai Photonics Technology (shanghai) Co., Ltd., Myanmar Asia Optical International Ltd., China Investment Corp., Aof Image Technology (usa) Inc., Dongguan Nikon Electronic Test Equipment Co. Ltd., Aof Imaging Technology Japan Ltd., AOF Imaging Technology Ltd.
d) According to its financial statements, Asia Optical has invested millions into "Pioneer Technology Co. Ltd." (a company owned by Pioneer Corporation). In 2011 AO and Pioneer entered into a joint venture to build DSCs in Brazil. The JV is called: Pioneer Yorkey do Brasil Ltda.
www.imaging-resource.com/NEWS/1312851080.html
e) Almost everyone associated with General Imaging Company was at one time employed by Pioneer Corporation.
f) According to Bill of Ladings, there have been numerous shipments from ports in China to California (LA). The shipper: GENERAL IMAGING COMPANY, the Consignee and ‘Notify Party’: PIONEER YORKEY BRASIL LTDA. There are no known agreements between Pioneer and General Imaging. The joint venture was supposedly with Pioneer and AO.
g) Old news: JK Imaging is a California company – not a Florida company. The president of General Imaging and GI’s corporate address is listed in JK Imaging’s corporate registration.
h) Old news: JK Imaging's web domain was registered using contact names and emails associated with Asia Optical.
i) Mike Feng (President of General Imaging Company) has served on Asia Optical's Advisory Board.
j) Mr. Lai was in firm control of the January press conference and the post-game interview. Mr. Hackett, the JK Imaging VP was not present at the interview.
k) The AO deal with JK Imaging is exclusive, meaning AO is the only entity manufacturing the new line of Kodak cameras. This was gleaned from the post-press conference interview with Robert Lai, AO’s Chairman.
What a story.... Chinese / Taiwanese companies essentially "owning" iconic US brands without ever owning a single share of the companies!
What does this have to do with Kodak? I needed to resolve, with some degree of certainty, that an entity other than an unknown start-up was involved in acquiring Kodak’s brand, which I believe is still a very important asset. I now know that the Kodak brand is in very capable hands.
My research has followed two fronts.
1) Media & Taiwanese Sources
The first front involves information obtained from a direct source who happens to be an editor of a well-recognized digital imaging publication. He, in turn, has a source in Taiwan that is well-connected in the Digital Still Camera (DSC) industry. The Taiwanese source revealed that Asia Optical is behind the licensing of GE and Kodak brands - PERIOD. AO’s Chairman Robert Lai (AKA Mr. Lai I-Jen), the man seen holding the white S1 camera in the recent Kodak press conference, is the key figure behind these deals. Lai is the founder of AO and has served as both its president and chairman. Lai serves on many BODs and is unbelievably well-connected in Chinese, Taiwanese, and Japanese imaging businesses.
JK Imaging and General Imaging are fronts intended to ‘legitimately’ obscure Asia Optical’s traditional role as EOM/OMD for other brands Over the past few years, AO has moved away from reliance on traditional OEM/ODM deals involving strictly IP licensing into deals that involve brand licensing. Apparently this model was preferred due to the expense in IP licensing (the recent Kodak-AO court ruling exemplifies this). Apparently OEM/OMDs have also taken hits in licensing IP from GE and others. Furthermore, in its traditional role as OEM/ODM Asia Optical is able to extract only 2-3% of margin, a tough go in an industry that is very demanding with respect to R&D and capitalization. In the past Kodak and other brands would use multiple EOM/ODMs. But the brand licensing model now preferred by AO strikes up an exclusive deal between one manufacturer and several brands (i.e. Kodak, GE, AGFA, Pioneer). Apparently, AO wanted Olympus as well, but its board turned them down. This approach turns the previous OEM/ODM model on its head. It probably replaces, or significantly reduces, the IP licenses with ‘brand licenses’ which is unit-driven, royalty-driven.
GE does not own a stake in General Imaging. It is only interested in the licensing deal and apparently it is doing fairly well. Due to the high initial investment and expenses related to industrial design, tooling, R&D, testing, QA, assembly, worldwide marketing & distribution, etc., it simply does not make sense for GE. Kodak tried to make a go of it, but it too realized there is a better way….brand licensing. These brand licensing deals are win-win scenarios. Clearly it is less expensive for AO; and AO now has much greater control of all aspects of design, manufacturing, marketing, and distribution. AO already had a massive manufacturing infrastructure involving every aspect of DSC design, manufacturing, and supply chain logistics. Research AO and its investments and you will see that it owns all or part of everything necessary to make a quality DSC… cost effectively. You should note that in 2010 Asia Optical acquired a majority stake in Taiwan Ricoh’s lens division thereby increasing its capabilities in lens/optic manufacturing. This is key if you are going to make a camera cheaply.
Another matter shared by the Taiwanese source is an important one. AO would like to run with Japanese styling and it shows. There is a hint that Kodak Japan design team might come along with the deal – but this much I have not confirmed. The short of it is this: AO loves the Kodak brand and AO feels that it has much greater potential than the GE brand. Regardless of what happens to the GE-branded camera, AO feels that the Kodak brand has legs with emerging markets. Combine this with the plans to incorporate some very exciting “Japanese” styling and you have a real winner. Lai knows this and I would bank on his expectations on how this will play out. By the way, some of the camera styles that were revealed in the recent press conference are prototypes… vastly new styling is expected.
My research has hinted at the above for some time, but I was unable to accept the audacity of AO’s move until it was explained by the Taiwanese source. I am very appreciative of this information. Still, I required further information to substantiate these claims; and so I went down even more rabbit holes.
2) Rabbit Holes: Financial Ties & Circumstantial Evidence
The sensitive nature of AO’s traditional OEM/ODM relationships since the mid 1990’s required the complex web of businesses that I will outline below.
AO has 100% ownership of a company called Richman International Group (RIG) located in the British Virgin Islands. RIG owns a 5% stake in Yorkey Optical International (Cayman) which in turns owns 100% of Yorkey Optical Technology (Samoa). Yorkey Optical International Cayman Ltd. operates as an investment holding company, which engages in the production and sales of components for optical and opto-electronic products. Its products include precision pressing parts, plastic injection moldings, coating and printing, molding technologies, and camera cases. The company was founded in December 1995 and is headquartered in Hong Kong. Yorkey Optical Technology is described as “investment holding and trading of plastic and metallic parts and components of optical and opti-electronic products”.
Note that AO owns only 5% of Yorkey Optical International (Cayman). The remaining is owned as follows (the exact stakes may have changed since the 2006 International Offering). By the way, each reference below to “BVI” stands for “British Virgin Islands”.
Ability Enterprise BVI (BVI): 24.75%
Asia Promotion (BVI): 30.25%
Fortune Lands (BVI): 15%
Public: 25%
The above is referenced hereafter as the ‘Yorkey-Consortium’
Stay with me here. Yorkey Optical Technology (Samoa) owns (100%) of the following:
Click Away (BVI) - Provision of technical training and after sales services
Dongguan Yorkey (PRC) - manufacture and sale of plastic and metallic parts and components of optical and opti-electronic products
Bioamazing (BVI) - Provision of research technical support services
The point of listing these companies is to show not only the complexities of these arrangements (intended, in part, to obscure) but to also show the infrastructure currently in place to support the GE and Kodak deals (as well as the AGFA and Pioneer deals).
If you would like to see this all presented visually, just go to the following resource (page 70; or page 77 of the PDF file):
globaldocuments.morningstar.com/documentlibrary/document/50de14b5e00a4218.msdoc/original
The above document contains some very compelling information. I urge all to read it. Here are some excerpts from the above document that will help you see AO’s motivation and the motivations of others with the Yorkey-consortium (referenced below as the “Group”):
Asia Optical was incorporated in Taiwan in 1980 and its shares have been listed on the
Taiwan Stock Exchange since August 2002. Asia Optical was founded by its president,
Mr. Lai I-Jen, in 1980 and is a manufacturer of optical components, finished optical and
opto-electronic products, cameras, DVD pick-up heads. Asia Optical is also engaged in
the development and manufacture of lens units and modules of finished photographic
products such as cameras.
The customers of Asia Optical and its subsidiaries include Bushnell Corporation, Canon
Inc., Hewlett-Packard Company, Hitachi Ltd., Eastman Kodak Company, Nikon
Corporation, Olympus Optical Co., Ltd., Pioneer Electronics Inc., Ricoh Co., Ltd., and
others.
The Directors believe that the investment of Asia Optical through Richman International
as a strategic investor of the Group is beneficial to the business development of the
Group by enhancing the strategic alliance and good relationship with one of the major
customers of the Group. The strategic value arising from the strategic alliance between
the Group and Asia Optical is as follows:
The Group is mainly engaged in the manufacture and sale of plastic and metallic parts
and components of optical and opto-electronic products, such as DSCs and traditional
film cameras, which is an industry characterized by rapid environmental change and
keen market competition. The Group has established its customer base by the provision
of high quality products for years. Nevertheless, as stable acquisition of purchase orders
from customers is one of the crucial factors in maintaining long-term business growth,
the Group dares not disregard competition from other competitors. Therefore, to upgrade
the degree of the stability of long-term purchase orders, the Group invited Richman
International, a subsidiary of the Group’s major customer, Asia Optical, to become the
Shareholder at a discounted price. Although the proceeds received from issuance of
Shares will decrease to some extent, the Group believes that such strategic alliance will
significantly benefit the long-term development of the Group and the shareholders’
interests.
Asia Optical’s contribution to the Group’s revenue:
1. In 2004, the Group’s profit amounted to US$11,193,000. 25% of the amount
contributed by Asia Optical, which equaled to US$2,800,000. Therefore, invitation
of Asia Optical to become a Shareholder, the cooperation between Asia Optical
and the Group would be consolidated and long-term growth of shareholders interest
secured.
2. The introduction of Richman International will help the Group to acquire more
purchase orders from Asia Optical, which will significantly upgrade the operation
and the equity value. Based on Asia Optical’s contribution of a revenue of
US$17,000,000 revenue to the Group in 2004, if the purchase orders from Asia
Optical increase by 10% to 15% annually, the Group’s revenue will increase by
around more than US$2,000,000.
Consequently, the potential benefit of Asia Optical’s participation via its subsidiary far
exceeds the discount offered for its participation.
The Financial “Smoking Gun”:
General Imaging Company and JK Imaging are private companies so we may never discover a direct funding link. I did learn from a Japanese publication, which was poorly translated, that private equity and venture capital were involved in GI’s start-up. The same source stated that GE capital was NOT involved. Mike Feng, GI’s current president, has significant experience in venture capital. He was the former partner of InveStar Capital, Inc (based in LA, California, but comprised of American-Taiwanese partners).
www.investar-cap.com/partners/partners.htm
The point is that there are a hundred different ways in which money could flow either directly from one of the Yorkey-consortium members, companies owned by Yorkey Optical Technology (Samoa), or investors and holding companies in China/Taiwan.
Here are some interesting Chinese connections:
China Development Industrial Bank through CDIB Capital (America) Stocks Limited and CDIB Global Markets I Stocks Limited has significant holdings in Yorkey Optical International (Cayman) (25% of YOI is publicly-owned) www.cdibank.com/other/B836-f.pdf
China Development Industrial Bank also has a 5% stake in InvesStar Capital. www.cdibank.com/other/B836-f.pdf
InveStar is also “partnered”: with SinoPac Bank; likely through SinoPac BanCorp (a California-based holding company). www.investar-cap.com/partners/partners.htm
The corporate registration entity for JK Imaging was Chen & Fan Accountancy Corporation, a firm with rich Chinese and Taiwanese ties. Chen & Fan is partnered with Crestridge Consulting, www.crestridgeconsulting.com/index.php/default/contents/aboutus
Some more miscellaneous facts:
a) Mr. Lai, I-Jen, was/is a non-executive Director of Yorkey Optical International (Cayman).
b) Asia Promotion Optical Inc., a company incorporated in Taiwan and is owned as to 42% by Mr. Liao, an executive Director, as to 8.3% by Mr. Lai Hsien-Tang, the brother of Mr. Lai I-Jen, a non-executive Director, and hence a connected person of the Company
****Update: As of November 2012, Asia Promotion Optical sold shares to AO, which now owns 27.4% of the issued
share capital of Yorkey Optical Internation (Cayman).
Read more: kodak.boards.net/index.cgi?action=display&board=general&thread=3706&page=1#ixzz2KFOPvQyQ ****
c) Lai serves on the BOD of the following companies: Asia Optical Co., Inc., Powerlink Electronic International Ltd., Yorkey Optical International Cayman Ltd., Dongguan Ricoh Eleme Office Machine Co., Ltd., Asia Optical International Ltd., Dongguan Sintai Nuosi Precision Optical Machine Co., Ltd., Toyo Optics (shenzhen) Co., Ltd., Taiwan Top Optical Co., Ltd., Sintai Optical (shenzhen) Co., Ltd., Pioneer Nobuyasu (dongguan) Optical Co., Ltd., Worldview Technology Corp., Sintai Photonics Technology (shanghai) Co., Ltd., Myanmar Asia Optical International Ltd., China Investment Corp., Aof Image Technology (usa) Inc., Dongguan Nikon Electronic Test Equipment Co. Ltd., Aof Imaging Technology Japan Ltd., AOF Imaging Technology Ltd.
d) According to its financial statements, Asia Optical has invested millions into "Pioneer Technology Co. Ltd." (a company owned by Pioneer Corporation). In 2011 AO and Pioneer entered into a joint venture to build DSCs in Brazil. The JV is called: Pioneer Yorkey do Brasil Ltda.
www.imaging-resource.com/NEWS/1312851080.html
e) Almost everyone associated with General Imaging Company was at one time employed by Pioneer Corporation.
f) According to Bill of Ladings, there have been numerous shipments from ports in China to California (LA). The shipper: GENERAL IMAGING COMPANY, the Consignee and ‘Notify Party’: PIONEER YORKEY BRASIL LTDA. There are no known agreements between Pioneer and General Imaging. The joint venture was supposedly with Pioneer and AO.
g) Old news: JK Imaging is a California company – not a Florida company. The president of General Imaging and GI’s corporate address is listed in JK Imaging’s corporate registration.
h) Old news: JK Imaging's web domain was registered using contact names and emails associated with Asia Optical.
i) Mike Feng (President of General Imaging Company) has served on Asia Optical's Advisory Board.
j) Mr. Lai was in firm control of the January press conference and the post-game interview. Mr. Hackett, the JK Imaging VP was not present at the interview.
k) The AO deal with JK Imaging is exclusive, meaning AO is the only entity manufacturing the new line of Kodak cameras. This was gleaned from the post-press conference interview with Robert Lai, AO’s Chairman.
What a story.... Chinese / Taiwanese companies essentially "owning" iconic US brands without ever owning a single share of the companies!
