Hoya Corporation

Hoya Corporation
Native name
 Hoya株式会社
Public KK
Traded as TYO: 7741
TOPIX 100 Component
Industry Precision instruments
Founded Hoya, Japan (November 1, 1941 (1941-11-01))
Founders Shoichi Yamanaka
Shigeru Yamanaka
Headquarters Shinjuku-ku, Tokyo 161-8525, Japan
Key people
 Hiroshi Suzuki
(President and CEO)
Products
Revenue

Increase JP¥ 490 billion (FY 2014)

(US$ 4.1 billion) (FY 2014)

Increase JP¥ 92.8 billion(FY 2014)

(US$ 777 million) (FY 2014)
Number of employees
 34,635 (as of March 31, 2015)
Website Official website
Footnotes / references
[1][2][3]

Hoya Corporation (Hoya株式会社 Hoya Kabushiki-gaisha) is a Japanese company manufacturing optical products such as photomasks, photomask blanks and glass magnetic-memory disks, contact lenses and eyeglass lenses using wavefront technology for the health-care market,[4] medical photonics,[5] lasers, photographic filters, and software. Hoya Corporation is one of the Forbes Global 2000 Leading Companies[6] and Industry Week 1000 Company.[7]

Hoya acquired the camera company Pentax in 2007, for the price of US$1 billion, about 10% more than Pentax was valued at the time. In June 2010 the grandson of the corporation's founder Yutaka Yamanaka [8] proposed changes to the Board of Directors to prevent what he called such "mistakes" from happening again.[9][10]

On October 1, 2011, Hoya sold its Pentax camera business to Ricoh.[11][12]

History of Hoya-Pentax merger

Hoya discussed a merger with Pentax into Hoya Pentax HD Corporation during 2007. Hoya's primary goal was to strengthen its medical-related business by taking advantage of Pentax's technologies and expertise in the field of endoscopes, intraocular lenses, surgical loupes, biocompatible ceramics, etc. It was speculated that Pentax's camera business could be sold off after the merger. The merger was initially intended to be completed by October 1, 2007.[13] However, Pentax management decided to not pursue the originally planned share swap, and other options for a merger were discussed.[14] On May 25, the Pentax board of directors accepted Hoya's offer for a merger.[15] On August 6, 2007, Hoya completed a friendly takeover bid for Pentax and acquired 90.59% of the company.[16] On October 29, 2007, Hoya and Pentax announced that Pentax, as the company ceasing to exist, will merge with and into Hoya on March 31, 2008.[17]

The acquired Pentax surveying instrument business (later IT Asahi Co., Ltd.) and camera business (now Pentax Ricoh Imaging Co., Ltd.) were sold to Taiwan Instrument Co., Ltd. in 2009 and Ricoh Co., Ltd. in 2011, respectively.

Business ethics and corporate social responsibility

In 2008, the glass disk subsidiary in Thailand was involved in a labour dispute. After the involvement of some customers, the dismissed workers were reinstated, and both management and union accepted to participate in harmonious communication.[18]

See also

References

  1. ↑ "Corporate Profile". Hoya Corp. Retrieved September 24, 2015.
  2. ↑ "Company Snapshot". Bloomberg L.P. Retrieved September 24, 2015.
  3. ↑ "Financials". Bloomberg L.P. Retrieved September 24, 2015.
  4. ↑ "Home". Hoyalux iD. Retrieved August 10, 2014.
  5. ↑ "Hoya Photonics, Inc™". Hoyaphotonicsinc.com. Retrieved August 10, 2014.
  6. ↑ "Company Profile". Forbes. Retrieved September 24, 2015.
  7. ↑ "The 2013 IndustryWeek 1000". IndustryWeek. Penton Media. June 7, 2013. Retrieved August 10, 2014.
  8. ↑ Yutaka Yamanaka (January 8, 2012). "Yutaka Yamanaka's opinion - Our Pension is in Danger ! ! - 健全な資本市場改革で、僕らの世代の貴重な年金資産を守ろう". yutakayamanaka.blogspot.com. Retrieved August 10, 2014.
  9. ↑ Alpeyev, Pavel; Ueno, Eijiro (May 27, 2010). "Hoya Founder's Grandson Calls Pentax Acquisition 'Failure,' Seeks Reforms". Bloomberg. Bloomberg L.P. Retrieved May 27, 2010.
  10. ↑ "Business News, Stock market & Financial Advice". Businessweek. Bloomberg L.P. Retrieved August 10, 2010.
  11. ↑ Reisinger, Don (July 1, 2011). "Hoya sells off Pentax digital camera business". CNET. Retrieved July 1, 2011.
  12. ↑ "Hoya Announces Closing of Sale of the PENTAX Imaging Systems Business". Hoya Corp. October 1, 2011. Retrieved January 27, 2012.
  13. ↑ "Hoya and Pentax to merge". Digital Photography Review. December 21, 2006. Retrieved May 16, 2015.
  14. ↑ "Hoya株式会社" (PDF). Hoya Corp. Retrieved May 16, 2015.
  15. ↑ "Pentax finally accept Hoya offer". Digital Photography Review. May 25, 2007. Retrieved September 24, 2015.
  16. ↑ "Notice Regarding the Results of the Tender Offer for the Shares of PENTAX Corporation and Change of Subsidiary" (PDF). Hoya Corp. August 7, 2007. Retrieved August 7, 2007.
  17. ↑ "Public Notice of Execution of Merger Agreement" (PDF). Hoya Corp. & PENTAX Corp. October 29, 2007. Retrieved October 31, 2007.
  18. ↑ Overeem, Pauline (November 2009). "On the Spot - Hoya Glass Disk (Thailand): a long road to unionisation". GoodElectronics. Retrieved May 16, 2015.
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