OREANDA-NEWS. HOYA CORPORATION announced that it received a reassessment notice from the Tokyo Regional Taxation Bureau (“TRTB”) with respect to itstransfer pricing taxationin transactions with overseas subsidiaries that develop and manufacture electronics related products, for the five yearperiod from the fiscal year ended March 31, 2007 through the fiscal year ended March 31, 2011.

The notice indicates that the Company’s revised tax liabilities areapproximately nine billion yen incorporate income tax and local taxes (including other taxes). It is estimated that the Company will be required to paya total of approximately3.3 billion yenin additional tax, due tothe existence of net operating lossescarried forward with respect tothe indicated fiscal years. The revised tax was largely attributable to incomeearned prior tothe global financial crisis of mid-2008.

The Company believes with confidence that it carried out transactions with its overseas subsidiaries under fair and proper conditions, and that the Company and those subsidiaries appropriately declared and paid a proper amount of taxes in accordance with the tax laws and regulations of each country. The Company disagrees with the judgement of TRTB and will promptly lodge an objection with the tax authority seeking withdrawal of the reassessmentnoticein accordance with the relevantlaw.

The Company will closely examine the content of the reassessmentnotice, and will account foritin the first quarter of the fiscal year ending March 31, 2014.