Category: General News
Posted Jan 31, 2018 09:49 (GMT +7)
Hoya Reports Third Quarter Financial Results: Record High Revenues
TOKYO--(BUSINESS WIRE)--Jan. 30, 2018
Hoya Corporation (TOKYO:7741) today announced financial results for the third quarter ended December 31, 2017.
During the quarter, revenues for the HOYA Group increased 11.6% year on year, reaching 136,759 million yen. Profit growth in conjunction with higher revenues led to quarterly profit before tax of 34,683 million yen with 27,727 million yen in profit, representing increases of 6.8% and 10.6%, respectively.
In the Life Care segment, sales of eyeglass lenses rose 16% on a currency-neutral basis in response to business acquisitions and strong sales growth in the Americas. Sales of contact lenses increased, driven by ongoing new store openings. Medical endoscopes sold well throughout Asia, however, tough competition in the U.S. and Europe led to overall sales level with the same period last year. Intraocular lens sales grew 16% on a currency-neutral basis, mainly due to the introduction of new products. As a result, sales of the Life Care segment reported 90,113 million yen, up 14.5% year on year.
In the Information Technology segment, sales for semiconductor mask blanks rose in response to strong demand for cutting-edge products whereas sales of photomasks for LCDs were level year on year. Sales of glass substrates for hard disk drives remained level year on year due to continued high general demand. Imaging-related product sales increased 11% on a currency-neutral basis, due to a steady demand for digital camera and security camera. As a result, revenues for the Information Technology segment reported 45,466 million yen, up 5.9% year on year.
"I am encouraged with our steady progress in the Information Technology segment thanks to sales increase of 3.5 inch glass disk for hard disk drives," said Hiroshi Suzuki, chief executive officer of HOYA. “In the Life Care segment, we will continue to focus on the growth while securing profit.”
Hoya also announced the projected results for the fiscal year ending March 31, 2018. Hoya forecasts revenues of 535 billion yen (up 11.7% compared to the previous year), pre-tax profit of 128 billion yen (up 15.5%) and profit for the term of 104 billion yen (up 19.7%).
Summary of Consolidated Financial Statement
|(Millions of Yen: Rounded to the nearest million)|
|Three months ended||Variance||Nine months ended||Variance|
|Dec. 2016||Dec. 2017||(%)||Dec. 2016||Dec. 2017||(%)|
|Profit before tax||32,475||34,683||6.8||86,386||98,098||13.6|
|Profit for the term||25,080||27,727||10.6||67,877||79,687||17.4|
|Basic earnings per share(yen)||64.59||72.44||173.11||207.22|
*Results are preliminary and unaudited.
The full reports are available at: www.hoya.com
Founded in 1941 in Tokyo, Japan, Hoya is a global med-tech company and the leading supplier of innovative high-tech and medical products. Hoya is active in the fields of healthcare and information technology providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for semiconductor devices, LCD panels and HDDs. With over 150 offices and subsidiaries worldwide, Hoya currently employs a multinational workforce of over 36,000 people. For more information, please visit http://www.hoya.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180130005621/en/
Akiko Chiba, +81-3-6911-4824
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