Hoya Announces First Quarter Financial Results

Hoya Announces First Quarter Financial Results

TOKYO--(BUSINESS WIRE)-- HOYA Corporation (TOKYO:7741) today announced financial results for the first quarter ended June 30, 2013. For the quarter under review, revenues increased 8.4% to 100,425 million yen year-on-year. Profit before tax decreased 22.2% to 20,123 million yen, and profit for the quarter decreased 46.9% to 12,334 million yen.

The sales of glass disks for HDD and optical lens in the Information Technology segment declined due to the shift in demand from notebook PCs and compact cameras to smartphones and tablets. Recovery of eyeglass lenses from the Thai flooding as well as healthy growth of other Life Care businesses including medical endoscopes and contact lenses covered the decline in the Information Technology segment.

The significant decrease in profit is due to the insurance income of 11,038 million yen for the Thai flooding and gains of 2,269 million yen related to the phased acquisition of shares of subsidiary, both recorded in the first quarter of last year.

"On a local currency basis, the sales of eye glass business increased between 15 and 20% worldwide year-on-year, however, the profit has not been fully recovered. Our next goal is to bring up the profit to the same level as before the Thai flooding by optimizing the product mix and increasing efficiency in labs," said Hiroshi Suzuki, chief executive officer of HOYA. "For the endoscopes business we are aiming at increasing our presence in an emerging market including China, India and Latin America to cover up the sales of South Europe in order to achieve steady growth of the entire business."

HOYA also announced the forecast for the first six months ending September 30, 2013 as shown below.


Consolidated Financial Statement for the First Quarter

(Millions of Yen: Rounded to the nearest million)  
   Three months ended Variance
   6/12 6/13(%)
Profit before tax25,88020,123-22.2
Profit for the quarter23,23412,334-46.9
Basic earnings per share(yen) 53.81 28.51  

Consolidated Forecasts for the First Half

   Six months ended/ending Variance
   9/12 09/13(%)
Profit before tax41,89634,000-18.8
Profit for the term37,74823,500-37.7
Profit for the term per share (Yen) 87.34 54.46  

About HOYA

Founded in 1941 in Tokyo, Japan, Hoya is a global technology company and the leading supplier of innovative and indispensable medical/high-tech products based upon its advanced optics technologies. Hoya is active in the fields of Life Care and Information Technology providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for the semiconductor devices, LCD panels and HDDs. Hoya now has over 100 subsidiaries and employs approximately 34,000 people worldwide. For more information, please visit http://www.hoya.co.jp/english/index.html

Hoya Group
Akiko Maeyama / Naoji Ito, +81-3-5913-2307
Corporate Communications

KEYWORDS:   United Kingdom  Europe  Asia Pacific  Ireland  Japan


The article Hoya Announces First Quarter Financial Results originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story