HOYA Corporation Announces Agreement to Acquire Performance Optics, LLC

TOKYO, October 12, 2016 /PRNewswire/ --

Acquisition strengthens global HOYA Vision Care business

HOYA Corporation (HOYA) today announced a definitive agreement to acquire Performance Optics, LLC (Performance Optics), including its subsidiaries VISION EASE and Daemyung Optical. Performance Optics is a global ophthalmic lens manufacturer specializing in polycarbonate, photochromic, polarized and high index eyeglass lenses. This acquisition will strengthen HOYA's ability to provide customers with a broader portfolio of leading products, while continuing to provide best-in-class services to the eyewear industry.

"The acquisition of Performance Optics expands HOYA's customer reach, particularly through VISION EASE's presence in the Americas and its strengths in polycarbonate products and technologies," said Girts Cimermans, CEO of HOYA Vision Care. "Performance Optics provides HOYA with additional capabilities in polycarbonate, photochromic and polarized lens technologies, as well as an expansion of our global footprint in high index lens casting to reinforce our position as a global technology leader in lens manufacturing. Importantly, we also will augment our global research & development capabilities, creating a new technology center of excellence outside of Japan."

Performance Optics is a global eyeglass lens manufacturing company employing over 2,000 people around the world. With manufacturing facilities in the United States, Korea, China, Thailand and Indonesia, Performance Optics serves the worldwide needs of eyewear customers. "Performance Optics' subsidiaries, VISION EASE and Daemyung Optical, have capabilities and cultures of innovation, quality and service that strongly complement HOYA's footprint and long-standing reputation in the eyewear industry," said John Weber, CEO of Performance Optics. "By joining forces, we will better meet our customers' global needs across geographies."

"Our acquisition of Performance Optics continues HOYA's strategic initiatives in the Life Care segment," said Augustine Yee, Chief Legal Officer and Global Head of Corporate Development and Affairs at HOYA Corporation. "Performance Optics enables HOYA to become a more broad-based leader in Vision Care, our largest division."

About HOYA 

Founded in 1941 in Tokyo, Japan, Hoya is a global technology and med-tech company, and a leading supplier of innovative high-tech and medical products. Hoya is active in the fields of healthcare and information technology, providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses, as well as key components for semiconductor devices, LCD panels and HDDs. With over 150 offices and subsidiaries worldwide, Hoya currently employs a multinational workforce of over 34,000 people. For more information, please visit http://www.hoya.com.

About HOYA Vision Care 

For over 60 years, HOYA Vision Care has been a global leader in the eyeglass lens business. With a presence in over 50 countries, Hoya Vision Care has a proven expertise in lens designs and freeform surfacing technology combined with a leading position in high performance, quality AR coating. HOYA Vision Care's solid market portfolio includes SEIKO and PENTAX optical lenses, as well as innovative products such as Hoyalux iD MyStyle V+ progressive lenses and Yuniku, vision-centric 3D tailored eyewear. The company employs over 16,000 employees worldwide with mass production facilities in Asia & Europe and over 40 local Rx laboratories globally.

About Performance Optics, LLC 

Performance Optics, LLC is a portfolio company of Wind Point Partners that is focused on optical company investments. It comprises ophthalmic lens manufacturers VISION EASE and Daemyung Optical Co. Ltd., and includes production facilities in the United States, Thailand, Indonesia, South Korea and China.

VISION EASE is a global ophthalmic lens marketer and manufacturer offering lenses that are now industry standards - including polycarbonate, photochromic and polarized lenses.

Daemyung Optical Co., Ltd. is the second largest optical lens manufacturer in Korea and specializes in high-index plastic lenses.

Additional information available at http://www.visionease.com and http://www.dmo.co.kr/eng/

Investors and security holders may obtain additional information and other documents, filed by the Company with the Tokyo Stock Exchange, regarding the acquisition for free at HOYA's website at http://www.hoya.com.