Hoya Corporation (Japan) is to absorb Pentax Corporation, changing its plan to make the company a wholly owned subsidiary. The merger will become effective on 31st March 2008. Hoya, which acquired a 90.4 pct stake in Pentax through a tender offer earlier this year, concluded that speedy management and the appropriate use of resources of Pentax's operations would be better ensured by the merger.
Following the merger, based on the common core technological foundation in optics, imaging and materials, the new company will be able to optimise its business portfolios, focusing on the life care, optics, information technology, eye care, and imaging systems areas. Expected stable revenues from the information technology and eye care areas will support the life care area in achieving strategic growth. In addition, vertical integration in the optics field, like surveying instruments, will lead to qualitative structural reform and further strengthen competitiveness.
Public Notice of Execution of Merger Agreement 29-10-2007
Hoya to Absorb Pentax
November 2, 2007