TOKYO--Hoya Corp. [Nikkei: 7741] and Pentax Corp. [Nikkei: 7750] have announced plans to merge next October. The two companies, both based here, share core technology platforms in optics, imaging and materials.

The newly reorganized company will be known as Hoya Pentax HD Corp. Fumio Urano, current president and chief executive officer of Pentax, will become chairman of the board. Hiroshi Suzuki, current Hoya president and chief executive officer, will become president and CEO.

The new company will focus on the life care, optics, information technology, eye care and imaging systems areas, according to a statement released by Hoya and Pentax. Under the new organizational structure, the life care area, which includes intraocular lenses, will combine Hoya’s medical division and Pentax’s life care division. The eye care area, which includes eyeglass lenses and contact lenses, will consist of the remaining Hoya eye care division after it is separated from the company’s medical division.

Sources at Hoya and Pentax confirmed that the new company’s eye care area does not include the Pentax ophthalmic lens business, which was acquired by Seiko Corp. in January, 2004 as previously reported by Vision Monday and VMail.