Two synchrotron radiation sources, the 2.5 GeV Photon Factory Storage Ring (PF ring) and the 6.5 GeV Photon Factory Advanced Ring (PF-AR), have been in stable operation at the High Energy Accelerator Research Organization (KEK) for over 40 years. This paper first describes the current operational status and recent developments at PF. Next, a new concept of hybrid light source (PF-HLS) combining the advantages of a superconducting linac and a low-emittance storage ring is described. In the preliminary design, the energy range is from 2.5 GeV to 5.0 GeV, and the storage ring will be constructed in a green field with a circumference of 750 m. The design baseline for superconducting linac uses the International Linear Collider (ILC) specifications.