Sumitomo Reorganizes its Sales Subsidiaries of Optical and Electronic Devices Businesses

Sumitomo Electric Industries Ltd announced that it has decided to reorganize its sales subsidiaries of optical and electronic devices businesses. On April 1, 2009, Sumitomo Electric made Eudyna Devices Inc its wholly owned subsidiary to strengthen the foundations of optical and electronic devices businesses and develop it much further.

In order to pursue early realization of the synergistic effects of the acquisition, Sumitomo Electric will succeed Eudyna's sales and marketing, strategic planning, as well as research and development of the entire optical and electronic device businesses, while Eudyna will assume product development, manufacturing, sales engineering, quality assurance and purchasing (Japan domestic procurement only) activities from Sumitomo Electric by way of an the absorption-type corporate split effective as of August 1, 2009. At the same time, Eudyna will change its corporate name to "Sumitomo Electric Device Innovations Inc."

Sumitomo Electric Asia Ltd, Sumitomo Electric's sales base in Asia, will integrate the assets and the business with Eudyna Devices Asia Pte Ltd (Eudyna's sales subsidiary in Singapore) on October 1, 2009.

According to the company, these series of reorganizations will merge technologies of both two companies, Sumitomo Electric and Eudyna, and strengthen their capabilities to meet more sophisticated customer needs accelerating launch of new technologies and products.

www.sumitomo.com