By Jason Clenfield and Norihiko Kosaka Oct. 27 (Bloomberg) — Hoya Corp., the Japanese lens maker that bought Pentax Corp. for about $1 billion, is prepared to make a similar-sized acquisition to expand its health-care unit.
“We will do some M&As,” Chief Operating Officer Hiroshi Hamada said in an interview at the company’s Tokyo headquarters on Oct. 23. Hoya may target assets as large as Pentax or pursue smaller overseas venture-capital firms, he said.
An acquisition of a health-care business would help President Hiroshi Suzuki expand the company’s most-profitable division, and build on a strategy that led to the 2007 purchase of endoscope maker Pentax. Hoya is also seeking to partner a consumer-electronics company such as Samsung Electronics Co. to compete with larger rivals in the camera market, Hamada said.
“Hoya is a little weak in basic technologies, so it makes sense they’d consider buying a business in order to save development time,” said Mitsuhiro Osawa, an analyst at Ichiyoshi Research Institute Inc. in Tokyo, adding that an acquisition could also help expand distribution channels for medical equipment. “How many doctors do they have connections with? You can’t just build a network overnight.”
Hoya, Japan’s largest maker of optical glass, fell 1 percent to close at 1,975 yen in Tokyo trading, compared with a 1.5 percent decline by the benchmark Nikkei 225 Stock Average. The company’s shares have risen 28 percent this year. ..
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