Hoya Reports Rise in Fourth Quarter Revenues and Profits

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TOKYO— Hoya Corp. (TOKYO: 7741) reported that revenues from all operations increased 9.8 percent to 96,095 million yen for the fourth quarter ended March 31, 2013 compared with the same period last year. Profit before tax increased 69.7 percent to 29,965 million yen and profit for the term increased 102.5 percent to 23,239 million yen year on year. Hoya attributed the significant increase in profit to the recording of 14,275 million yen of insurance income in the form compensation for the fixed assets and for the lost profit suffered from the Thai flooding.

For the fiscal year ended March 31, 2013, Hoya said revenues from all operations were 372,494 million yen, down 1.2 percent year on year mainly due to business transfer of Pentax Imaging Systems in October 2011. Profit before tax was up 52.7 percent to 89,368 million yen, and profit for the term was up 66.9 percent to 71,242 million yen over the previous fiscal year. The income from Thai flooding insurance for the year amounted 32,187 million yen.

“Even excluding some specific factors such as exchange gain and insurance income, we marked increases both in sales and profit this fiscal year. It is noteworthy that the sales of eyeglass lens business returned to the same level as before the Thai flooding in the fourth quarter, and the flexible endoscopes business developed sales in Middle East and Russia,” said Hiroshi Suzuki, chief executive officer of Hoya. “The earnings structure of the Information Technology segment is almost completed. For the next fiscal year, my focus is to grow sales of Life Care segment and at the same time to seek the opportunity for M&As.”

Revenue from Hoya’s Life Care segment, which consists of the Health Care related products such as eyeglass lenses and contact lenses and Medical Related products, which includes intraocular lenses, accounted for 61.2 percent of Hoya’s total fourth quarter revenue. Life Care revenue climbed to 58,835 million yen in fourth quarter, a 29.7 percent increase versus year ago. Health Care related products 43,078 million yen, up 34.2 versus year-ago. Medical related products 15,757, up 18.9 from year-ago.

For the fiscal year, revenue from the Life Care segment accounted for 56.1 percent of Hoya’s total revenue. Life Care revenue increased 208,968 million yen for the fiscal year, up 8.3 percent from 2012. Revenue for Health Care related products rose by 150,100 million yen, up 7.0 percent from 2012; revenue for Medical related products increased 58,868 million yen, up 11.8 percent from 2012.