Hoya corporate earnings

Japanese maker of optical glass Hoya Corp. posted JPY 7.5 billion in consolidated net profit during the April-June quarter in August this year, up 20% from the same period a year earlier. The growth w…

Japanese maker of optical glass Hoya Corp. posted JPY 7.5 billion in consolidated net profit during the April-June quarter in August this year, up 20% from the same period a year earlier. The growth was induced largely by the improved profitability of the company“s vision-care division, which handles lenses for eyeglasses, among other products. Photomasks also sold briskly on strong demand from semiconductor makers keen on improving their product performance. The yen“s depreciation was another factor behind the higher net profit, company officials said. Group sales during the same three-month period rose 7% to JPY 60.3 billion, largely on a 6% climb in sales of the electro-optics division, which handles semiconductor-and LCD-related products, and a 10% increase in sales of the vision-care sector, whose business base in the US turned profitable. Hoya also unveiled its forecast of JPY 118 billion in group sales for the fiscal first half through September, up 2% year on year. The slow growth is due to an expected fall in sales of semiconductor-related and optical products in the July-September period, the officials said. Group net profit for the six-month term is likely to rise 2% to JPY 14 billion, bolstered by earnings at the vision-care division.