30 October 1997: The Japanese optical glass firm Hoya is expected to raise dividends by 5 yen this year to 28 yen, with the interim dividend up 3 yen. This would be the fourth consecutive term for a d…
30 October 1997: The Japanese optical glass firm Hoya is expected to raise dividends by 5 yen this year to 28 yen, with the interim dividend up 3 yen. This would be the fourth consecutive term for a dividend increase as the company keeps its commitment to a 30% pay-out ratio. After-tax profit of the parent company was up 37% for the first half ended in September and should be up 20% for the year. Current profit will be down 22% to 13.4 billion yen for the group due to a drop in sales in glass magnetic computer disks. Consolidated results will show profits on the sale of assets accompanying a restructuring of the organisation as well as valuation gains on assets, which should boost net profit for the year by 7% to 16.4 billion yen. Stronger magnetic disk orders in the second half should help keep current profit around the 28 billion yen level for the group, down just 11% from last year.