Pentax 2003 Annual Report Download - page 14

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Vision Care
The Vision Care division manufactures, processes and markets mainly eyeglass lenses in Japan and over-
seas. Its products are especially well recognized for their high degrees of added value, and Hoya is pursuing
development of this business with the aim of becoming a leading international company.
Glass and plastic are the two main materials used for eyeglass lenses. Hoya produces some glass
lenses, but the majority of its product lineup is plastic. Even among the common single-focus lenses for
near- and far-sightedness there are variations such as spherical lenses, aspherical lenses, and double-sided
aspherical lenses, which along with variations in materials and coatings make for a wide range of lenses and
types. Hoya boasts an array of value-added products that are internationally recognized for their high levels
of technology and quality, including progressive and high-index lenses, as well as lenses with special coatings.
In the Japanese eyeglass market during fiscal 2003, low-priced products offered by discounters
known as “three-price shops” drew many customers, leading to slack performance among the large-scale
chains that needed to respond to the challenge. This was the result of an influx into Japan of low-priced
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HOY A2003-e 0711 03.7.21 9:50 PM ページ 13