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The Hoya Group and Scope of Consolidation
The Hoya Group (the “Group”) consists of Hoya Corporation, its 58
consolidated subsidiaries (six in Japan and 52 overseas) and five affiliates
in Japan. One of the five affiliates is accounted for by the equity method.
Compared with the end of the prior consolidated fiscal year, three
consolidated subsidiaries were added through establishment of new
companies, one consolidated subsidiary was added by an acquisition
and one consolidated subsidiary was eliminated through liquidation.
The Hoya Group is managed through consolidated group
management on a global basis. Each of the Group’s major business
divisions, centered on the Information Technology and Eye Care fields,
implements the management strategies formulated by the Global
Headquarters at Hoya Corporation in line with their independent
business responsibilities. By area, regional headquarters in North
America, Europe and Asia perform activities such as strengthening
relationships with the countries and areas in their respective regions,
providing legal support and conducting internal audits, thereby
supporting the promotion of business activities. The Hoya Group
financial headquarters is located in Europe.
Net Sales ฀
Consolidated net sales for the fiscal year ended March 31, 2005
increased 13.5% year on year to ¥308,172 million. By main business
segment, net sales for the Electro-Optics division of the Information
Technology field rose 22.6% year on year, net sales for the Vision Care
division of the Eye Care field fell 3.3%, and net sales for the Health
Care division rose 10.7%.
Examining net sales by customer region, net sales to customers in

MANAGEMENT’S DISCUSSION AND ANALYSIS
Sales by Business Segment (% of total)
100
75
50
25
0
2001 2002 2003 2004 2005
Electro-Optics (Millions of yen)
Photonics (Millions of yen)
Vision Care (Millions of yen)
Health Care (Millions of yen)
Crystal (Millions of yen)
Service (Millions of yen)
112,341
6,534
86,198
20,130
9,942
1,657
101,496
7,157
93,184
23,106
8,788
1,534
111,461
5,485
94,388
26,717
6,719
1,523
135,071
4,116
98,203
28,381
4,322
1,351
165,664
10,749
94,971
31,409
3,672
1,707
Net Sales (Millions of yen)฀
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
2001 2002 2003 2004 2005
Net sales (Millions of yen) 236,802 235,265 246,293 271,444 308,172
0.7 0.7
47.4
2.8
36.4
8.5
4.2
43.1
3.1
39.6
9.8
3.7
45.3
2.2
38.3
10.9
2.7
0.6
49.8
1.5
36.2
10.4
1.6
0.5
53.8
3.5
30.8
10.2
1.2
0.5