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Hoya Vision Care Expands in Czech Republic

UITHOORN, the Netherlands, August 21 /PRNewswire-FirstCall/ -- Hoya Corporation's Vision Care Division, a key player in the global market for ophthalmic lenses, announced today that it acquired Dioptra CZ a.s., one of the leading distributors of ophthalmic lenses in the Czech Republic.

Dioptra has a long and rich tradition in the optical field, with origins dating back to 1896. Hoya and Dioptra have worked together under an exclusive arrangement since the year 2000. Dioptra CZ employs 32 people in Turnov, near Prague, and generated over EUR 4 million sales in 2007.

Hoya Corporation's Vision Care Division will acquire 100 percent of the shares in Dioptra CZ. While the existing management team will remain in place, Mr. Rainer Burkard, Director of Global Business Development for Hoya Vision Care, will serve as Acting Managing Director thru 2008.

In early 2009, Hoya expects to appoint Ms. Ivana Nechanicka to serve as Managing Director of Dioptra CZ. Ms. Nechanicka is currently the Southwest Regional Sales Manager for Hoya Vision Care North America. A Czech native and consistently one of Hoya's top sales producers, Ms. Nechanicka will return to her homeland after living in the U.S. for 35 years.

The agreement with Dioptra CZ will allow Hoya to increase sales of high-end premium products in the fast-growing Czech market. Hoya believes the Czech market is growing in excess of 10% per year, driven by an accelerated conversion of mineral to organic lenses, and bi-focal to progressive designs.

Gerald W. Bottero, President and CEO of Hoya Vision Care, said: "We are excited about the future of Hoya in the Czech market, and expect to see higher sales of progressive lenses due to rising disposable incomes, a highly educated class of eye care professionals and favourable demographic trends."

About Hoya Corporation

Hoya Corporation is a global leader in information technology, eye care, medical devices and imaging systems. With over 35,000 employees and operations across the globe, Hoya recorded total sales of over JPY 481.6 billion in fiscal year 2007. Hoya was founded in 1941 and trades on the First Section of the Tokyo Stock Exchange.

SOURCE Hoya Corporation
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