TOKYO--(BUSINESS WIRE)--Hoya Corporation (TOKYO:7741) today announced financial results for the third quarter ended December 31, 2016.
During the quarter, revenues for the HOYA Group amounted to 122,594 million yen, decreasing 4.0% compared with the same period last year. Pre-tax profit amounted to 32,475 million yen, and profit for the quarter was 25,080 million yen, increasing 4.2% and 4.4%, respectively.
In the Information Technology segment, sales of the mask blanks for semiconductors expanded as demand for developing cutting-edge products increased. However, in the photomasks for semiconductors and LCD photomasks, sales decreased because of the decline in production capacity of the Kumamoto Plant following the Kumamoto earthquakes. Sales of glass substrates for hard disk drives were approximately the same year on year, because of the impact of the appreciation of the yen. Sales of the IT segment as a whole decreased year on year.
In the Life Care segment, sales of contact lenses and intraocular lenses were strong. In the eyeglass lenses business, sales expanded on a local currency basis, mainly in the Americas, Europe, and Asia, but because of the effect of foreign currency fluctuations, overall sales decreased. In the endoscopes business, sales in Europe on a local currency basis expanded but, as a result of the impact of foreign currency movements, sales in yen terms diminished. For the Life Care segment as a whole, sales decreased year on year.
For the nine months ended December 31, 2016, revenues decreased 8.2% to 352,623 million yen and pre-tax profit was down 10.0% to 86,386 million yen year on year. Profit for the term was down 9.3% to 67,877 million yen.
"During the quarter, the eyeglass lenses business grew overall due partly to stabilization of Asia operation," said Hiroshi Suzuki, chief executive officer of HOYA. "For the endoscopes business, we are expecting a good outcome in the coming year with new products releases."
Hoya also announced the projected results for the fiscal year ending March 31, 2017. Hoya forecasts revenues of 473 billion yen (down 6.5% compared to the previous year), pre-tax profit of 111 billion yen (down 6.8%) and profit for the term of 87 billion yen (down 6.8%).
Summary of Consolidated Financial Statement
|(Millions of Yen: Rounded to the nearest million)|
|Three months ended||Variance||Nine months ended||Variance|
|Dec. 2015||Dec. 2016||(%)||Dec. 2015||Dec. 2016||(%)|
|Profit before tax||31,179||32,475||4.2||95,938||86,386||-10.0|
|Profit for the term||24,034||25,080||4.4||74,824||67,877||-9.3|
|Basic earnings per share(yen)||58.14||64.59||178.56||173.11|
*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 34,000 people. For more information, please visit http://www.hoya.com.