Hoya expands vision biz into Russian market

Hoya Corp. (TYO:7741) said today it is entering into the Russian market through the creation of Hoya Lens RUS LLC.

The Japanese company said it sees “significant opportunities” in its Russian expansion, and hopes to become a leading provider of advanced eye-care tech and services.

“We look forward to building on the success the Hoya brand has enjoyed in Russia over the past 11 years. We intend to foster close relationships with our customers, and are highly committed to enriching their practice with best-in-class lens materials, designs and surface treatments. By launching new services for our customers, we will continue our innovation strategy,” Hoya Lens RUS managing director Evgeny Shumilov said in prepared remarks.

“We are immensely proud to establish our own entity in Russia. The country is one of our key strategic markets with exciting potential for value-added vision correction products. Hoya greatly values its close proximity to its customers, offering them quick access to the latest innovations and technologies, providing direct support and building business in partnership. A presence in Russia will allow us to strengthen this relationship and lay the foundations for future growth,” Hoya Vision Care Europe CEO Hans Werquin said in a prepared statement.

In September, Hoya subsidiary Pentax Medical said it agreed to buy a stake in U.K. electrosurgery device maker Creo Medical for an unspecified amount.

The move is part of Pentax Medical’s plan to get into the endoscopic therapy device market, the Japan-based company said.

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