Hoya Reports Its First Quarter Financial Results

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TOKYO—Hoya Corp. (TOKYO:7741) posted revenue of 127,158 million yen for the first quarter ended June 30, 2017, up 10.4 percent year on year. Pre-tax profit amounted to 30,548 million yen with 25,193 million yen in profit, representing increases of 37.1 percent and 40.1 percent, respectively. Profit before tax ratio was 24.0 percent, representing a year-on-year improvement of 4.7 points.

In the life care segment, Hoya said its eyeglass lens business captured a greater share of the market growth in Asia, while growth in the Americas combined with acquisition of the 3M prescription protective eyewear business, resulted in a significant jump in sales in that region. Sales of intraocular lenses for cataracts continued to perform well by a significant margin. As a result, sales for the life care segment grew 8.4 percent year-on-year, reaching 82,814 million yen. Segment profit fell 1.2 percent to 14,082 million yen, mainly due to advanced costs incurred to secure higher growth, according to Hoya.

"For the second quarter, we forecast sales increase and profit decline due to M&A related expenses in the life care segment,” said Hiroshi Suzuki, chief executive officer of Hoya. “We expect improvement in profitability toward the second half of this fiscal year.”