Seiko aligns with Hoya

Hoya and Seiko Epson have come to a basic agreement to begin to transfer Epson's ophthalmic lens development and manufacturing business to Hoya. Epson is the main supplier of ophthalmic lenses to Seiko Optical Products (SOP).

At the same time Hoya and Seiko Holdings Corporation are beginning discussions about the transfer of partial ownership of SOP, a wholly owned subsidiary of Seiko, to Hoya and forming a global alliance in marketing and distribution to promote eyewear globally.

Hoya, Epson and Seiko said they hoped to conclude a legally binding definitive deal at the earliest opportunity.