On March 2, 2026, ams-OSRAM AG ("ams OSRAM") completed the sale of its Entertainment and Industry Lamps business to Ushio Inc. ("Ushio"), a Japan-based manufacturer specializing in light sources and optical technologies, for a cash and debt-free purchase price of €114 million (approximately C$183.8 million). The transaction was first announced on July 29, 2025. ams OSRAM is a global leader in innovative light and sensor solutions, combining engineering excellence with cutting-edge global manufacturing to offer the broadest portfolio of digital light and sensing technologies. Torys LLP acted as Canadian counsel to ams OSRAM, with a team that included John Emanoilidis and Justin Crawford (corporate/M&A) and Benjamin Mann (tax). Pinsent Masons, jointly with Japanese partner law firm Hibiya Nakata, acted as legal counsel to Ushio in this transaction.