Seed Co., Ltd. (TSE:7743) acquired Contact Lens Precision Laboratories Ltd on April 9, 2018. As a result of the acquisition, Contact Lens Precision Laboratories has become a wholly owned subsidiary of Seed Co., Ltd. Diane Angell and John Clamp, Joint Chief Executive Officers of Contact Lens Precision Laboratories and UltraVision respectively, will continue as Joint Chief Executive Officers of Contact Lens Precision Laboratories Ltd and UltraVision after Contact Lens Precision Laboratories becomes a subsidiary of Seed Co., Ltd. Seed Co., Ltd. will in turn send a number of Non-Executive Directors to Contact Lens Precision Laboratories and UltraVision and exchange junior engineers with UltraVision. This acquisition will not impact consolidated financial results of Seed Co., Ltd., for the fiscal year ended March, 2018. Peter Allen, Helen Mather, Ryan Brown and Sheridan Edge of Kuit Steinart Levy LLP acted as legal advisors to Contact Lens Precision Laboratories.
Seed Co., Ltd. (TSE:7743) completed the acquisition of Contact Lens Precision Laboratories Ltd on April 9, 2018.
Seed Co Ltd is a Japan-based company mainly engaged in the research, development, manufacture and sale of contact lenses, as well as the sale of contact lens care products and other products. The Contact Lens and Care Products segment sells contact lenses, care products, and related products. Contact lens products include hard lenses, soft lenses, disposable lenses, orthokeratology lenses, and related products such as optical instruments. Contact lens care products include preservatives, cleaning solutions, enzymatic cleaning solutions, chemical disinfectants, storage cases, and others. The other businesses include eyeglass frames, eyeglass fixtures, intraocular lenses, and others.