USHIO (TOKYO:6925) (President and CEO: Shiro Sugata), announced that its wholly owned subsidiary USHIO OPTO SEMICONDUCTORS, INC., headquartered in Tokyo, has signed a demerger agreement with Oclaro Japan (President: Tadayuki Kanno), a wholly owned subsidiary of Oclaro (CEO: Greg Dougherty). Through this agreement, USHIO OPTO SEMICONDUCTORS will acquire the LED, red, violet and part of the infrared laser diode business from Oclaro Japan. The acquired activity is primarily located in Komoro, Japan and includes approximately 80 employees.
Since it was founded five decades ago, USHIO has developed, manufactured, and marketed a variety of successful and highly popular lamps and solid-state light sources. USHIO has long been one of the world’s leading manufacturers of industrial light sources. By this transfer, USHIO is aiming at further expansion of its solid-state light sources business. USHIO will receive transfer of the business related to the development, manufacture, and sales of semiconductor lasers and LEDs (other than Oclaro Japan’s optical communication business) from Oclaro Japan.
“Today, optical processes and applications have become more and more diversified and important in the industry. We at USHIO will provide a variety of light sources, including high-brightness and high-quality LEDs and LDs, as well as our existing lamp products to meet the diversified needs of our customers,” commented Shiro Sugata, President and CEO, USHIO INC.
“We are pleased to sign this agreement with Ushio, it was critical for Oclaro Japan to find a respected partner that would provide new opportunities to our Komoro employees and continued support and innovation to our customers.” commented Tadayuki Kanno, President of Oclaro Japan.
The closing of the transaction is expected to occur during the fourth calendar quarter of 2014.