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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  HOYA Corporation    7741   JP3837800006

HOYA CORPORATION

(7741)
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HOYA : Hitachi, Ltd. - HOYA and Hitachi Announce Long Term Technical Collaboration and Supply Agreement Related to Endoscopic Ultrasound Systems

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07/06/2020 | 07:43am EDT

HOYA Corporation (TSE:7741, 'HOYA') and Hitachi, Ltd. (TSE:6501, 'Hitachi') today announced a five year contract regarding Endoscopic Ultrasound Systems [EUS] by which, i) the parties will strengthen technical collaboration, and ii) Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor related parts used in EUS.

EUS consists of a diagnostic ultrasound system and ultrasound flexible endoscopes, and is used for examinations to evaluate the cancer staging in the liver, pancreas and bronchus. PENTAX Medical is a division of HOYA Group delivering endo-imaging solutions.

Hitachi's diagnostic imaging-related business is expected to be transferred to FUJIFILM Corporation, subject to customary closing conditions and regulatory approvals, and this agreement will be valid after such transfer.

Gerald Bottero, Global President of Pentax Medical, HOYA Corporation, stated, 'We are honored to continue our alliance with Hitachi which began with joint research in 1983 leading to the first commercial launch of our EUS in 1990. The Hitachi ultrasound technology is globally recognized as an important standard in EUS with high-quality imaging, advanced software modalities, and ease of use. We look forward to working with Hitachi's world-class research teams to accelerate innovation and wide adoption in this vital space.'

Toshihiko Kawano, CTO of Healthcare Business Unit, Hitachi, Ltd. said, 'It is our pleasure to keep continuing the business relation of EUS with PENTAX Medical Division, HOYA Corporation. Hitachi and PENTAX Medical have been working together for more than 30 years and developing innovative technologies in EUS. We look forward to collaborating in the future and exploring new clinical values to provide for better diagnosis and treatment.'

About HOYA

Founded in 1941 in Tokyo, Japan, HOYA Corporation is a global technology and med-tech company and a leading supplier of innovative high-tech and medical products. HOYA's divisions and business units research and develop products utilized in the healthcare and information technology fields. In the healthcare field, we provide medical device products such as eyeglasses, medical endoscopes, contact and intraocular lenses, orthopedic implants, surgical/therapeutic devices and medical device reprocessing and disinfection solutions. In the information technology field, we provide products such as optical lenses, photomasks and blanks used in the manufacturing process for semiconductor and LCD/OLED devices, text to speech, human resources and other software solutions and critical components for the mass memory and cloud storage industries. With over 150 offices and subsidiaries worldwide, HOYA currently employs a multinational workforce of 37,000 people.

About Hitachi Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors - Mobility, Smart Life, Industry, Energy and IT - through Lumada, Hitachi's advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers.

Contact:

Tel: 3-3258-1111

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HITACHI, LTD. 4.67% 3274 End-of-day quote.-29.23%
HOYA CORPORATION -0.48% 10370 End-of-day quote.-0.77%
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Financials
Sales 2021 549 B 5 162 M 5 162 M
Net income 2021 116 B 1 087 M 1 087 M
Net cash 2021 331 B 3 119 M 3 119 M
P/E ratio 2021 33,2x
Yield 2021 0,88%
Capitalization 3 886 B 36 776 M 36 570 M
EV / Sales 2021 6,48x
EV / Sales 2022 5,64x
Nbr of Employees 36 795
Free-Float 93,8%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 11 083,00 JPY
Last Close Price 10 370,00 JPY
Spread / Highest target 25,4%
Spread / Average Target 6,88%
Spread / Lowest Target -20,0%
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NameTitle
Hiroshi Suzuki Chief Executive Officer & Director
Eiichiro Ikeda Chief Operating & Technology Officer
Ryo Hirooka CFO, Representative Executive Officer
Yukako Uchinaga Independent Outside Director
Mitsudo Urano Independent Outside Director
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