Dec. 18, 2002 — Olympus Optical Co. said it will spend more than $80 million overhauling one of its Japanese plants to make MEMS, according to Asia Pulse.

The company said it will invest more than $16 million a year during the next four years in its Nagano Prefecture plant to install semiconductor equipment and other microfabrication machinery. The move is aimed at providing work for the plant after digital camera manufacturing work moves to China, the report said.

Olympus intends to make lenses, photosensors and components for endoscopes. The company expects the new business to be profitable by 2004.