Epson Begins Negotiations about Transfer of Optical Products Business


- TOKYO, Japan, April 10, 2012 -

Seiko Epson Corporation ("Epson," TSE: 6724) has announced that it has today agreed with Hoya Corporation ("Hoya") to commence negotiations about a transfer to Hoya of Epson's optical products business. The proposed transfer aims to promote global expansion of the business by combining the assets of the two parties.

Based on today's agreement, Hoya and Epson are looking to conclude a contract at the earliest opportunity.

Hoya has today also come to an agreement with Seiko Holdings Corporation concerning an alliance about sales of eyeware products.

Outline of Epson's optical products business

Business lines Development and manufacture of eyeglass lenses
Business sites R&D and manufacturing: Seiko Epson Corp. Matsushima Plant
(8793 Naka-Minowa, Minowa-machi, Kami-Ina-gun, Nagano, Japan)
Manufacturing: Seiko Lens Service Center Corporation Philippines Epson Optical Inc. (Cavite Plant / Laguna Plant)
No. of employees Approx. 2,200 (Japan: 600, overseas 1,600) (as of March 21, 2012)

About Epson
Epson is a global imaging and innovation leader that is dedicated to exceeding the vision of customers worldwide through its compact, energy-saving, high-precision technologies, with a product line-up ranging from printers and 3LCD projectors for enterprise and the home, to sensors and other microdevices.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 78,000 employees in 99 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates.
http://global.epson.com/