See the latest official press release at Hoya's website (in English):-
http://www.hoya.co.jp/english/news/latest/d0h4dj0000001fv8-att/d0h4dj0000001fwi.pdf
In short, Pentax's camera division and all its businesses will be sold whilst Hoya will keep the more profitable businesses. So, Pentax is splitted and divided! :-(
The splitting is agreed to be completed on October 1 of 2011. Ricoh will pay 10 billion Japanese Yens (currently about US$124 millions) for the transaction. It should be noted that the ex-Pentax Corporation and Hoya reached an agreement and Hoya purchased Pentax in a total of 105 billion Japanese Yens in 2007. So, now it seems that the camera division of Pentax worths only less than 1/10 of the original value of the whole Pentax, when it was acquired 4 years ago.
Old Reported Stories:-
Hoya Founder's Grandson Calls Pentax Acquisition "Failure", Seeks Reforms (May 2010)
Hoya CEO Still Thinking to Sell Off Pentax (October 2009)
Finally, It is Done. (June 2007)
Hoya Swallows Pentax! (December 2006)