Showa Denko, Hoya to merge hard drive media operations

Japanese chemical maker Show Denko K.K. and optical glass maker Hoya Corp. will establish a joint venture to integrate their operations in recording media for hard disk drives, the two companies said …

Japanese chemical maker Show Denko K.K. and optical glass maker Hoya Corp. will establish a joint venture to integrate their operations in recording media for hard disk drives, the two companies said 30 September 2008. The new company will be 75%-owned by Showa Denko with Hoya taking the the rest. The companies expect the joint venture to post annual sales of JPY 180 billion, with a global market share equivalent to that of industry leader Seagate Technology Inc. of the United States. The move is designed to boost the two firms“ research and development capabilities at a time when hard drive storage capacity is rapidly expanding due to growing use in personal computers and other information technology-related electronics products. Showa Denko and Hoya plan to consider reorganizing five Japanese and overseas production sites.