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HOYA continues record-breaking run

Tokyo-based optical company Hoya posted record high revenues during the third quarter last year and expects to see more profit growth for the first quarter in 2018.

The company saw an 11.6% year-on-year revenue increase of ¥136.7 billion (AU$1.6 b), leading to 10.6% profit growth of ¥27.7 billion (AU$326 m) for the quarter. Hoya also posted record high revenues and profit for the six months ending September 30 last year.

The biggest contribution came from the Life Care segment, which recorded a 16% increase in the sale of spectacle lenses on the back of business acquisitions and sales growth in the Americas.

Intraocular lens sales also increased, but tough competition in Europe and US saw sales for medical endoscopes remain steady with the previous year.

"In the Life Care segment, we will continue to focus on growth while securing profit."
Mr Hiroshi Suzuki, CEO of Hoya

Total sales for Life Care for the period reached ¥90.1 billion (AU$1.06 b), up 14.5% year on year.

Meanwhile, steady growth was reported for the Information Technology segment, which that company said was particularly driven by strong demand for cutting-edge products.

Overall, total revenues for the segment reached ¥45.5 billion (AU$535 m), a 5.9% year on year increase.

“I am encouraged with our steady progress in the Information Technology segment thanks to sales increases of 3.5 inch glass disk for hard disk drives,” HOYA CEO Mr Hiroshi Suzuki said, adding: “In the Life Care segment, we will continue to focus on growth while securing profit.”

The company is hoping to see revenues rise further for the first quarter, projecting revenues to increase by 11.7% compared to last year, profit before taxes by up to 15.5%, and term profit by up to 19.7%.

The company also released projected results for the fiscal year ending March 31, which featured forecast revenues of ¥535 billion (AU$6.3 b), an 11.7% increase compared to the previous year, and profits of ¥104 billion (AU$1.22 b), which would represent a nearly 20% improvement on FY17.


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