TOKYO—Hoya Corp. (TOKYO: 7741) reported revenues totaling 115,165 million yen for the first quarter ended June 30, 2016, down 8.8 percent year on year. Pre-tax profit was 22,274 million yen, and profit for the quarter amounted to 17,978 million yen, representing declines of 27.9 percent and 24.0 percent, respectively. Hoya cited a loss on foreign exchange of 3.4 billion yen compared with a gain on foreign exchange of 2.0 billion yen in the same period last year as reason for the decline.

Although Hoya said revenue in its eyeglass lens business in Europe and the U.S. increased during first quarter, total revenue for its life care segment, which includes the eyeglass lens business, was down 4.3 percent from year ago, to 76,380 million yen. Hoya said that although contact lenses and intraocular lenses businesses held firm, endoscope revenues decreased because of the effects of foreign currency fluctuations.

"New products of medical endoscopes will be introduced in North America during the second half of this year, and we expect topline to come back and start to grow again next year,” said Hiroshi Suzuki, chief executive officer of Hoya. “On the other hand, new products of intraocular lens are well received and gaining competitiveness. We look forward to its growth in the coming years.”

Hoya forecast a 10.3 drop in revenue for the first six months ending September 30, 2016, to 230,000 million yen.