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November 4, 2007: After almost a year of on-again-off-again negotiations, Hoya and Pentax will merge on 31 March, 2008.
The announcement was made in a letter to customers from Pentax President, Nobuaki Tanishima, which stated: "Following the merger, based on the common core technological foundation in optics, imaging, and materials, the new company will optimize its business portfolios, focusing on the life care, optics, information technology, eye care, imaging system areas. All Pentax business divisions will be optimized within the same framework of the Hoya's other business divisions to strengthen its business. By doing so, better communication, prompt management decision, and proper resource allocation will be assured. We continue to devote our efforts to make even more outstanding the Pentax brand even after the merger." Full details of the execution of the merger agreement can be found at http://www.hoya.co.jp/data/current/newsobj-489-pdf.pdf.
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