Hoya plans to buy Pentax for some £390m in shares, giving the Japanese giant entry into digital imaging technology, with Hoya chief executive Hiroshi Suzuki leading the combined company.
The deal, announced late in December, does not include the Pentax ophthalmic lens business, which was acquired by Seiko in January 2004. The new company, effective from October 1, will be named Hoya Pentax HD Corporation.
A report in The Telegraph (December 22) stated Hoya had posted three straight years of rising net income, but described Pentax profits as flat and falling.
In a joint statement the companies said that in the eye care division of the new company stable earnings growth was expected.
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