29 October 1998: Optical glass maker Hoya Corp. of Japan reported its recurring profit and sales in the April-September first half declined from a year ago, following the transfer of business division…
29 October 1998: Optical glass maker Hoya Corp. of Japan reported its recurring profit and sales in the April-September first half declined from a year ago, following the transfer of business divisions to a subsidiary. Hoya“s six-month recurring profit fell 15.7% from the preceding year to 8,249 million yen on sales of 61,125 million yen, down 3.4%. After-tax profit fell 14.3% to 5,472 million yen. The profit decline came from the transfer of part of its vision care and crystal divisions to a subsidiary, Hoya officials said. On a consolidated basis, Hoya posted a 15.3% jump in its recurring profit to 17,541 million yen. The group“s net profit increased 9.7% from the preceding year to a record 9,181 million yen, aided by higher profitability in the vision care division and cuts in sales and administration expenses. Sales expanded 5.5% to a record 104,238 million yen on steady sales of semiconductor-related and optical products and eyeglass lenses.