Hoya“s net profit increases 20% in second quarter

Hoya Corp. posted a JPY 7.5 billion consolidated net profit during the second quarter of this year, up 20% from the same period a year earlier, the company announced on 23 July.
The growth was induce…

Hoya Corp. posted a JPY 7.5 billion consolidated net profit during the second quarter of this year, up 20% from the same period a year earlier, the company announced on 23 July. 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 three-month period rose 7% to JPY 60.3 billion, largely on a 6% increase 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. The major producer of optical products and eyeglasses also unveiled its forecast of JPY 118 billion in group sales for the fiscal first half of the year to September, up 2% from last year. The slight growth is due to an expected fall in sales of semiconductor-related and optical products in July-September, 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. The company did not disclose forecasts for the entire fiscal year through March. But company sources say group-operating profit for the full term is expected to grow some 5% year on year.