Pentax 2004 Annual Report Download - page 4

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To Our Stakeholders
2
One of the most notable developments of the past year has been the recovery in corporate performance, particularly in the
manufacturing sector, led by digital consumer electronics. Hoya was able to benefit from this trend during fiscal 2004
(ended March 31, 2004) by focusing intently on responding to the needs of its customers.
Digital Consumer Electronics and Hoya
Hoya’s Information Technology products are essential to digital consumer electronics. For example, as digital cameras
become more compact, lightweight and offer more features, designing these products would be extremely difficult with-
out high-precision glass aspherical lenses. Device mobility has also progressed in recent years, and there is growing
demand for such products as notebook computers. As a result, Hoya has experienced increased demand for shock-resis-
tant glass disks used in notebook computer HDDs. Hoya’s cutting-edge technology development, high-quality and high-
precision products, and reliable supply system have helped it establish strong, trusting relationships with clients for the
photomasks and mask blanks that are an integral part of the manufacturing process of increasingly miniaturized semicon-
ductors, and for the large-scale photomasks used to make liquid crystal display panels for LCD televisions.
Initiatives During Fiscal 2004
During fiscal 2004 Hoya continued to develop and produce high-precision, high-quality products, but the extraordinary
rise in the scale of the digital consumer electronics market resulted in a flood of orders and requests that exceeded the
Company’s production capacity. In response we formulated a plan to increase capacity through equipment purchases, staff
increases and new production facilities, while running existing facilities at full capacity. However, demand greatly exceed-
ed our expectations in terms of speed and volume, and our supply was unable to keep pace in certain areas. I would like
to take this opportunity to apologize to customers inconvenienced by our inability to fill all requests.
Regarding the establishment of manufacturing facilities, we consider it a priority to maintain a structure that is able
to supply customers from nearby locations, as well as one that can provide goods appropriate to future demand and
market scale, while bearing in mind the need for a quick response to customer needs. Accordingly, we decided, after
HOYA 2004-e 入稿用0705 04.7.22 7:57 PM ページ 3