HOYA, SEIKO and EPSON; Agreements Executed in the Field of Optical Products
TOKYO, November 16, 2012
TOKYO, November 16, 2012 /PRNewswire/ --
HOYA Corporation ("HOYA") today executed an agreement with Seiko Epson
Corporation ("EPSON") on the transfer of Epson's eyeglass lens development and
manufacturing to HOYA. The day of the transfer is planned for the 1 ^st
HOYA also executed today an agreement with Seiko Holdings Corporation
("SEIKO") on the partial ownership of Seiko Optical Products Co., LTD.,
("SOP") a SEIKO's wholly owned subsidiary, responsible for the sales of the
eyeglass-related eyewear and related product globally. Based on the agreement
above HOYA is going to acquire the 30% share of the SOP on the 1 ^st February
2013, and additional 20% on the 31 ^st March 2014.
HOYA is going to implement of those agreements on the schedule mentioned,
subject to the necessary approvals from the various authorities and the
completion of preparation.
With the accumulated expertise and knowledge on the development, manufacturing
and sales of the eyeglasses and related products, which are generated uniquely
by EPSON, SEIKO and HOYA, HOYA will commit to improve the satisfaction of our
consumers and customers throughout the world by enlarging the range of
products as well as our service.
This is the follow up of the announcement of the 10 ^th April 2012 that HOYA
entered into the basic agreements between EPSON and SEIKO, to announce
definitive agreements have been executed. Please refer to the previous
release which you can find in our website for further information.
"Basic Agreement executed in the field of eyewear business aiming to promote
the Japanese distinctive brand and optical technologies worldwide"
Separate disclosure has been made today regarding the agreement with SEIKO at
the Tokyo Stock Exchange according to the Rules on Timely Disclosure of
Corporate Information by Issuers of Listed Securities.
Contact: Ms. Akiko Maeyama, Hoya Investor Relations - Tel: +81-(0)3-3232-0062,
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