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SDK, Hoya end hard disk media consolidation

Posted: 20 Mar 2009 ?? ?Print Version ?Bookmark and Share

Keywords:hard disk? consolidation SDK Hoya? terminate consolidation?

Showa Denko K.K. (SDK) decided to terminate the discussions with Hoya Corp. concerning the planned consolidation of the two companies' hard disk media operations.

On Sept. 30, 2008, SDK and Hoya reached basic agreement to consolidate their hard disk media operations by establishing a joint venture in an effort to ensure sound growth of the business and strengthen competitiveness in a sustainable manner.

Since then, the two companies have continued to discuss and examine the matter. However, SDK and Hoya have judged that it will be difficult to establish the planned joint venture because of the recent drastic deterioration of the economic conditions and the changes in the environment of the industry.

The term of the basic agreement is to expire on March 29. As no concrete measures have been taken for the preparation of the consolidation, there will be no debts/credits resulting from the termination of discussions or the expiration of the basic agreement.

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