Japanese precision equipment maker Hoya Corp. said that it expects fixed-cost savings from streamlining and other measures to lift profit by JPY 10-13 billion in the year through March 2010.
In the p…
Japanese precision equipment maker Hoya Corp. said that it expects fixed-cost savings from streamlining and other measures to lift profit by JPY 10-13 billion in the year through March 2010. In the previous fiscal year, the company moved its production of digital cameras to the Philippines and elsewhere, also leaving the crystal glass business, reducing employees by 144. This reduction is expected to help save JPY 7-10 billion in personnel costs this fiscal year. Hoya also wrote down JPY 30.5 billion yen of the approximately JPY 45 billion in goodwill on its 2007 acquisition of Pentax Corp. at the end of fiscal 2008, which will lower Hoya“s goodwill amortization burden by about JPY 3 billion annually starting this fiscal year. Hoya still has not released its fiscal 2009 profit forecast.