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HOYA and PENTAX reach basic understanding for Management Integration

Hoya and Pentax announce that they have reached understanding aimed at management integration of the two companies. The structure of the new firm will be based on the concept of a small headquarters with empowered business divisions. Pentax Imaging will continue in the Imaging Systems Division, focusing on digital cameras, binoculars, etc. It will differentiate its offerings by specializing in high-value added products with unique technology where it has a competitive edge. The move is be completed by Oct. 1, 2007...

PRESS SUMMARY

The complete information regarding this news announcementHOYA CORPORATION (“HOYA”) and PENTAX Corporation (“PENTAX”) announced today that they have reached a basic understanding aimed at a management integration of the two companies, expected to be completed on October 1, 2007.

The new company's name will be HOYA PENTAX HD Corporation. Under a corporate center with strategic planning functions, the new company will realign the business areas of HOYA and PENTAX. HOYA and PENTAX have recognized that they are the best possible business partners to establish a solid business structure that draws on their respective strengths. Through this management integration, the planned new structure will allow the new company to swiftly allocate significant management resources to develop strategic business areas, aiming at accelerating future growth.

Additional information: The complete information regarding this news announcement
December 22, 2006
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