News has emerged over the weekend that Mamiya, best known for it’s film medium format cameras, is in financial crisis. According to Engadget, the venerable Japanese company is planning to sell its camera division to IT company Cosmos Scientific in September.

“According to reports out of Japan (which we’ve confirmed with our Japanese bureau), Mamiya, best known for its high-end pro equipment, will be selling off its film and digital camera business to focus on other sectors. The company apparently has had “stagnant sales” of its digital models, including its 22-megapixel, $12,000, Mamiya ZD, which was released in Japan in December and in Europe just last month.”

Website: Engadget - Mamiya bailing on camera biz

Website: DPNow - Mamiya medium format camera business in crisis