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No. 352, January 1999

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Japanese Companies in the US


Given the very competitive nature of the American optical retail market, MITANI CORP. decided that it would be better off in the wholesale end of the eyeglass business. As a result, its wholly owned SPECTRON, INC. subsidiary sold its 28 EyeWorld stores in New England and New York state to market leader LENS-CRAFTERS. Fukui prefecture-based Mitani reportedly made a profit of $28.6 million on the sale of the Natick, Massachusetts company's stores. Early this year, the trader, which bought Spectron in the 1980s, plans to establish a U.S. subsidiary to wholesale Brazilian-made eyeglasses.

An exchange rate of ¥117=$1.00 was used in this report.aaaaaa

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