TOKYO--(BUSINESS WIRE)-- HOYA Corporation (TOKYO: 7741) today announced financial results for the first quarter ended June 30, 2016. During the quarter, revenues totaled 115,165 million yen, representing a decline of 8.8% 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% and 24.0%, respectively. This is in part due to 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.
In the Information Technology segment, mask blanks for semiconductors increased in revenues, however, due to the earthquake damage to the Kumamoto plant, production of photomasks decreased. The volume of glass substrates for HDDs declined because of market conditions, and orders for imaging-related products decreased because of the Kumamoto earthquakes and other factors. These conditions, combined with the effects of appreciation of the yen, led to a drop in revenues for the IT segment as a whole.
In the Life Care segment, revenues in the eyeglass lens business in Europe and the United States increased, but due to the effect of appreciation of the yen, overall revenues in this business declined. Although contact lenses and intraocular lenses businesses held firm, endoscope revenues decreased because of the effects of foreign currency fluctuations. For the Life Care segment as a whole, revenues were below the level of the same quarter last year.
"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 also announced the forecast for the first six months ending September 30, 2016 as shown below.
|Revenue and Profit before tax||Three months ended||Variance|
|( Millions of Yen: Rounded off to the nearest million.)||Jun. 30,2015||Jun. 30,2016||(%)|
|Profit before tax||30,901||22,274||-27.9|
|Ratio of profit before tax(%)||24.5%||19.3%|
|Profit for the quarter||23,650||17,978||-24.0|
|Ratio of profit for the quarter(%)||18.7%||15.6%|
|Profit attributable to owners of the Company||23,344||17,908||-23.3|
|Ratio of profit attributable to owners of the Company(%)||18.5%||15.5%|
|Basic earnings per share (yen)||55.33||45.28|
|Projected Results for the First Half||Six months ended/ending||Variance|
|( Millions of Yen: Rounded off to the nearest million.)||Sep.30,2015||Sep.30,2016||(%)|
|Profit before tax||64,759||48,000||-25.9|
|Profit for the term||50,790||38,500||-24.2|
|Profit attributable to owners of the Company||50,381||38,500||-23.6|
|Profit for the term per share (Yen)||120.40||97.35|
*Results are preliminary and unaudited.
The full reports are available at http://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 34,000 people. For more information, please visit http://www.hoya.com.