Kyocera To Acquire PE-backed LCD Manufacturer

Kyocera Corp., a major comprehensive ceramics manufacturer, announced that it has completed a share transfer agreement with Japan Industrial Partners (JIP), Inc., a mid-sized private equity firm, to acquire all shares of Optrex Corp., a specialized manufacturer of liquid crystal displays and related products, in order to further strengthen and expand its LCD and touchscreen panel business. JIP purchased all shares of Optrex from Asahi Glass Co., Ltd. and Mitsubishi Electric Corp. in February 2008 because Optrex has been a joint venture of both companies.