From the Wires
Hoya Announces Third Quarter Financial Results under IFRS
By: Business Wire
Jan. 31, 2013 05:33 AM
Hoya Corporation (TOKYO: 7741) today announced financial results for the third quarter ended December 31, 2012. The full reports are available at: http://www.hoya.co.jp/english/investor/investor_09_25.html
During the quarter, revenues from all operations increased 8.6% to 90,682 million yen, and profit before tax increased 164.3% to 17,634 million yen. Profit for the term was up 215.3% to 10,329 million yen year on year. This significant increase in profit is due to the recording of tremendous expenses in the same period last year suffered from the Thai flooding. Profit attributable to owners of the company was up 217.1% to 10,293 million yen.
For the nine months ended December 31, 2012, revenues from all operations were down 4.5% to 276,399 million yen, while profit before tax was up 45.3% to 59,402 million yen. Profit for the term was up 53.8% to 48,003 million yen year on year, and profit attributable to owners of the company was up 54.1% to 47,903 million yen. This significant increase in profit is due to the recording of 17,912 million yen of insurance income this year in the form compensation for the fixed assets and for the lost profit suffered from the Thai flooding.
"Eyeglass lens business is recovering, though the demand for optical lenses and HDD glass disks are still weak," said Hiroshi Suzuki, chief executive officer of HOYA. "What I must do is to accelerate the pace of growth more in Life Care business."
Hoya also announced the projected results for the fiscal year ending March 31, 2013. Hoya forecasts revenues of 364 billion yen (down 3.4% compared to 376,940 billion yen for all operations in the previous year), profit before tax of 69 billion yen (up 17.9%) and profit for the term of 55 billion yen (up 28.9%).
Founded in 1941 in Tokyo, Japan, Hoya is a global technology company and the leading supplier of innovative and indispensable high-tech/medical products based upon its advanced optics technologies. Hoya provides mask blanks and photomasks for the semiconductor devices and liquid crystal panels, optical lenses, glass memory disks for HDDs, medical endoscopes, eyeglass lenses, and operates retail shops for contact lenses. Hoya now has over 100 subsidiaries and employs approximately 36,400 people worldwide. For more information, please visit http://www.hoya.co.jp/english/index.html
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