Japanese maker of optical glass Hoya Corp. announced that group net profit for the first half through September decreased slightly year on year to JPY 13.7.
The company has seen weaker demand for pro…
Japanese maker of optical glass Hoya Corp. announced that group net profit for the first half through September decreased slightly year on year to JPY 13.7. The company has seen weaker demand for profitable mask blanks used for microchip production and other electro-optical products. However, growth in vision-care products, such as eyeglass lenses, made up for the dip. The interim dividend will be JPY 25, up JPY 5 from the same period last year. Group revenue increased 2% to JPY 118.4 billion. Sales of eyeglass lenses grew 19% in the US and 15% in Europe. As a result, the vision-care division saw a 9% revenue increase. The electro-optics division, on the other hand, suffered a 4% revenue decline. In addition to a 14% sales fall in optical glasses for videocassette recorders, demand for mask blanks used in chip production deteriorated amid lower capital expenditures by chipmakers. Eliminating JPY 2.7 billion“s worth of foreign exchange gains, stemming from the lower yen, will slightly lower group revenue. Group operating profit grew 5% to JPY 22.8 billion. For the year through March, group operating profit will likely shrink 11% to some JPY 40 billion on revenue of JPY 230 billion, down 3%.