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RELATED PARTY TRANSACTIONS
6 Months Ended
Dec. 26, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
As of December 26, 2015, Hitachi, Ltd. ("Hitachi") held slightly less than 5 percent of our outstanding common stock based on Hitachi’s Schedule 13G filed with the Securities and Exchange Commission on December 2, 2015. During the second quarter of fiscal year 2016, Hitachi sold approximately 6.6 million shares of our common stock. Hitachi initially acquired these shares as a result of our acquisition of Opnext on July 23, 2012.
We continue to enter into transactions with Hitachi in the normal course of business. Sales to Hitachi were $1.0 million and $1.9 million for the three and six months ended December 26, 2015, respectively, and $0.8 million and $2.0 million for the three and six months ended December 27, 2014, respectively. Purchases from Hitachi were $5.5 million and $10.4 million for the three and six months ended December 26, 2015, respectively, and $3.9 million and $7.3 million for the three and six months ended December 27, 2014, respectively. At December 26, 2015, we had $1.1 million accounts receivable due from Hitachi and $4.8 million accounts payable due to Hitachi. At June 27, 2015 we had $0.7 million accounts receivable due from Hitachi and $4.8 million accounts payable due to Hitachi. We also have certain capital equipment leases with Hitachi Capital Corporation as described in Note 8, Commitments and Contingencies.
We are party to a research and development agreement and intellectual property license agreements with Hitachi.