HOYA Corporation Completes Acquisition of Performance Optics, LLC

TOKYO, August 2, 2017 /PRNewswire/ --

HOYA Vision Care is a strong global partner for the Eyecare Industry and its Customers

HOYA Corporation (HOYA) today announced the completion of the acquisition of 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. The acquisition complements the HOYA Life Care portfolio, further expanding both HOYA's geographic reach and product offering for its HOYA Vision Care division.

"In everything we do, we focus on the needs and challenges of Eyecare and Industry Professionals. We are a true partner, helping them to distinguish themselves from the competition by bringing value to their businesses, instead of acting as their competitor" said Girts Cimermans, CEO of HOYA Vision Care. "Performance Optics provides HOYA with additional capabilities and offerings in polycarbonate, photochromic and polarized lens technologies, and expands our global footprint in high index lens casting. This strengthens our position as a global technology leader and offers more Eyecare and Industry Professionals the sales and marketing support they want and need."

Performance Optics is a global eyeglass lens manufacturing company employing over 2,000 people around the world. With manufacturing facilities in the United States, South Korea, China, Thailand and Indonesia, Performance Optics serves the global 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."

"The closing of the Performance Optics acquisition is another key milestone for our Life Care segment," said Augustine Yee, Chief Legal Officer and Global Head of Corporate Development and Affairs at HOYA Corporation. "Performance Optics will now join HOYA Vision Care in their efforts to promote and support Eyecare and Industry Professionals with high-quality products, service and support. We also look forward to augmenting our global research & development capabilities with the creation of a new technology center of excellence outside of Thailand and Japan."

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 36,000 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 Yuniku, the world's first 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 m.dmo.co.kr.

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