Showa Denko and HOYA Corporation announced on Wednesday the companies terminated the discussions to consolidate their hard disc (HD) media businesses. Showa Denko and HOYA reached a basic agreement to integrate their HD media businesses and to establish a joint venture in September 2008. The companies continued discussions and examination on the matter. However, they judged the JV establishment would be difficult due to recent drastic deterioration in economy and the industry.
There will be no debts or credits caused from the discussion termination as they have taken no concrete measures for the preparation of the consolidation. The termination will not affect Showa Denko’s and HOYA’s performance for 2009.M | T | W | T | F | S | S |
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