Epson and Hoya Conclude Agreement on Transfer of Epson's Optical Products Business


- TOKYO, Japan, November 16, 2012 -

Seiko Epson Corporation ("Epson," TSE: 6724) today concluded an agreement with Hoya Corporation ("Hoya") about the transfer of Epson's optical products business to Hoya. The day of the transfer is planned for February 1, dependent on the necessary approvals from the various authorities and the completion of preparations.

The two companies commenced negotiations in April 2012, and these talks have continued to date. As a result of this agreement, Epson will transfer to Hoya and Hoya Group companies its optical products business of eyeglass lenses. According to the terms of the deal, the two companies' related businesses will be merged and leveraged worldwide.

Outline of Epson's optical products business

Business lines Development, manufacture and sales of eyeglass lenses
Business sites Seiko Epson Corp. Matsushima Plant
(8793 Naka-Minowa, Minowa-machi, Kami-Ina-gun, Nagano, Japan)
Seiko Lens Service Center Corporation
Philippines Epson Optical Inc. (Cavite Plant / Laguna Plant)
No. of employees Approx. 2,300 (Japan: 450, overseas 1,860) (as of as of November 1, 2012)

Hoya has also today concluded an alliance with Seiko Holdings Corporation over the sale of eyeglass-related products.

The impact on Epson's business results will be minimal and Epson will not revise its full-year forecast as a result of this agreement.

Reference: Outline of Hoya Corporation

Address 2-7-5 Naka-Ochiai, Shinjuku-ku, Tokyo, Japan
President Hiroshi Suzuki (CEO)
Business lines The electronics business makes mask blanks and photomasks for semiconductor devices and liquid crystal panels, and glass memory disks for hard disk drives. The Imaging business produces optical lenses, digital camera lens modules and microlenses. The Health Care business provides eyeglasses and operates contact lenses retail shops. The Medical Business provides endoscope systems, as well as intraocular lenses for cataract surgery
Paid-in capital 6.2 billion yen
Established August 23, 1944
No. of employees 4,454 (non-consolidated)
32,363 (consolidated) (as of March 31, 2012)

About Epson
Epson is a global imaging and innovation leader whose product lineup ranges from inkjet printers and 3LCD projectors to sensors and other microdevices. Dedicated to exceeding the vision of its customers worldwide, Epson delivers customer value based on compact, energy-saving, and high-precision technologies in markets spanning enterprise and the home to commerce and industry.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 81,000 employees in 97 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/