Japan“s Hoya Corp. posted a 16% rise in group net profit to 20.7 billion yen (US$ 195 million) in the year ended March 31. The second consecutive year of record net profit is thanks to robust sales.
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Japan“s Hoya Corp. posted a 16% rise in group net profit to 20.7 billion yen (US$ 195 million) in the year ended March 31. The second consecutive year of record net profit is thanks to robust sales. Sales of photomasks and other semiconductor-related products rose, offsetting shrinking sales in yen terms due to the appreciation of the Japanese currency. Parent-only net profit jumped 82% to 15.9 billion yen. The company will raise its second-half dividend by 3 yen to 19 yen, bringing its annual dividend to 35 yen, up from 30 yen a year earlier. Group sales edged down to 201.1 billion yen. Sales of electronic and optics products, including chip-related products, rose 4% to 90.2 billion yen. Sales of vision-care products grew 3% to 71.8 billion yen thanks to strong sales of eyeglass lenses. Sales of crystal products declined 14% to 10.5 billion yen due to sluggish sales of wine glasses and other glass products. The stronger yen reduced sales by 10 billion yen and net profit by 1 billion yen. As a result of cost-cutting efforts, such as shifting production to other parts of Asia, group operating profit rose 9% to 34.7 billion yen. Group pretax profit grew 6% to 35.5 billion yen.