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5
Corporate Governance
Hoya adopted the company-with-committees system in June 2003. The Board of Directors, of which outside directors make
up more than half the members, regularly solicits detailed and precise reports from the operating officers. These officers
are responsible for strict oversight, as well as reporting, a system that provides timely and efficient management.
Outside directors sit on every committee, which we feel allows for impartial judgments from an external perspective.
Outlook
For the Hoya Group to achieve further growth on a consolidated basis, it must respond flexibly to changes in the market,
utilize management resources effectively, and create new businesses.
Hoya’s business interests stretch across a wide range of fields. To respond flexibly and quickly to trends related to
customers, markets, products and competitors, we must be able to accurately grasp what our customers need, form strate-
gies to stay ahead of the competition, and implement effectively. We would also like to quickly develop business in rapidly
growing overseas markets, expanding the business worldwide and making full use of the global management capabilities
of the Group.
M&A investment forecast at the beginning of fiscal 2004 was terminated, so we returned the excess to investors in
the form of treasury stock acquisitions and an increase in cash dividends. Also, more than just capital and dividend initia-
tives, I believe that we must shift to a portfolio different from that of our traditional earnings structure, so that investment
in business to meet customers’ needs over the medium to long term will not be forestalled. To do this it is necessary to
uncover and acquire new businesses. Going forward, we will concentrate on addressing this longstanding issue.
The Hoya Group seeks to acquire and maintain leading shares in world markets, and through the proper mixing of
management resources utilize its drive, as well as its competitive, technological and development capabilities to their
fullest extent, maximizing corporate value. I offer my sincerest appreciation to all our shareholders and customers, and ask
for their continued support.
Hiroshi Suzuki, President and CEO
HOYA 2004-e 入稿用0705 04.7.22 7:57 PM ページ 6