EXHIBIT 99.1


                                                                          Sumida
                                                       Sumida Electric Co., Ltd.
                                     3-6-3 Nihombashi Ningyoucho, Chuo-ku, Tokyo
                                                                  103-8589 Japan

News Release

                                                                    July 2, 1999

Sumida Electric Co., Ltd.
Office of the President


                    SUMIDA ELECTRIC ANNOUNCES ACQUISITION OF
                  C.P. CLARE'S ELECTROMAGNETIC GROUP OPERATIONS


Sumida Electric Co., Ltd. (Tokyo; Shigeyuki Yawata, President and CEO) and C.P.
Clare Corporation (Beverly, Massachusetts; Arthur Buckland, President, CEO, and
Chairman of the Board of Directors) have reached a basic agreement under which
Sumida Electric will acquire C.P. Clare's Electromagnetic Group (Clare EMG,
Inc.).

Sumida Electric has agreed to purchase Clare EMG's shares from C.P. Clare. The
acquisition price is anticipated to be approximately US$36 million. The net
asset value of Clare EMG, Inc. is approximately US$20 million, and the annual
revenue of this business unit is approximately US$55 million. Sumida Electric
and C.P. Clare have signed the acquisition agreement as of July 2, 1999 and
expect to complete the acquisition in early August.

The agreement is part of Sumida Electric's strategy for growth as a
full-fledged, local player with a manufacturing base and sales network in the
sizeable NAFTA marketplace. With the acquisition of Clare EMG, Inc., its
high-quality, low-cost Guadalajara, Mexico factory, which produces such products
as electromagnetic components, relays, and surge protectors, will enable Sumida
Electric to expand its presence in global markets. By leveraging Clare EMG,
Inc.'s established market leadership, Sumida Electric will be well positioned in
both North American and European markets.






According to Shigeyuki Yawata, President and CEO of Sumida Electric, "We take
special pride in this opportunity to acquire the well-established, core
operations and American tradition of such a respected NASDAQ company as C.P.
Clare. This move will really let us go global."

Sumida intends to continue the business of EMG in North America in substantially
the same form with the same management.

"We are very excited to have found a partner with the international status of
Sumida Electric," said Arthur Buckland, C.P. Clare's President, CEO, and
Chairman of the Board. "The consummation of this transaction will further our
objective of focusing C.P. Clare on our core high-voltage semiconductor
business, while providing us with a prominent strategic partner in Asia."

Sumida Electric President and CEO Shigeyuki Yawata added, "This strategic
acquisition represents a major step toward our goal of becoming a truly global
corporation. For Sumida, this acquisition is more than a means to tap growing
markets overseas, but also a chance to significantly strengthen our global
operations. While not required by Japanese regulations, our policy is to
disclose the company's financial results in accordance with US GAAP
requirements. We believe that our commitment to financial disclosure will
contribute to enhancing shareholder value."

SUMIDA ELECTRIC CO., LTD.

Sumida Electric Co., Ltd., is a leading manufacturer and innovator of coils and
other electronic components. Headquartered in Japan, Sumida Electric
manufactures all of its products outside Japan and sells most of products
overseas as well. Sumida Electric is principally active in the fields of coils
for IT, communications, and mobile systems and for such strategic components as
Anti-Lock Braking Systems (ABS) for major automotive OEM customers. Including
its group companies based in Southeast Asia, Sumida Electric currently has
approximately 8,000 employees. With annual revenues of US$187 million in 1998,
Sumida Electric trades on the Second Section of the Tokyo Stock Exchange (TSE)
under the TSE code 6817.

C.P. CLARE CORPORATION

C.P. Clare Corporation is a leader in the design and manufacture of high-voltage
analog circuits. The company's products enable communications by providing the
critical interface between high-voltage electrical signals and the low-voltage
electronics that process those signals. Leading manufacturers of data
communications, telecommunications, and industrial equipment around the world
rely on CPCL for semiconductors and specialized electronic






components. C.P. Clare trades on the NASDAQ exchange under the symbol CPCL and
had annual revenues of US$144 million for the fiscal year ending March 1999.

For further information contact:
Public Relations - Akita, Ouchi, Koizumi
Tel: 03-3667-3381
Fax: 03-3667-3454