Pentax 2006 Annual Report Download - page 22

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
Eye Care
Compared by Hoya
The steel wool wear endurance
test, which moves the lens from
side to side 50 times with a
load of four kg applied to the
steel wool
Eyeglass Lenses
While the global eyeglass lens market is showing moderate growth overall,
there is a trend toward polarization in the market, with sales of high-end
lenses rising in specific regions and countries, and low-priced products
becoming more prominent elsewhere. Faced with such a market
environment, the Company has continued to focus on the upper end of this
market, relying on cutting-edge technology to provide high-value-added
products that support the vision needs of society. This strategy has provided
solid growth.
Underpinning growth during the fiscal year ended March 31, 2006, was
an emphasis on localization, and the success of continuous new product
development. The eyeglass lens market varies widely by country and region
in terms of distribution structures, customer preferences and governmental
regulation, and Hoya has restructured its business to divest decision-making authority to country and regional managers, allowing
them to pursue the best strategies for their markets. This region-based marketing strategy has opened up new channels for the
cutting-edge products that are the basis for the Company’s success. These include the thin, high-index material lens EYNOA and
EYRY, “Hoyalux iD,” the world’s first integrated double-surface progressive lens design. By utilizing both surfaces of the lens in
conjunction, these lenses expand the clear view at both near and far distances, and vastly improve on the curvature and
distortions common in previous lenses. Other products include the new SunTech series of light-sensitive lenses, and a scratch-
resistant SFT Coating.
The two most important markets for Hoya are Japan and Europe, both of which have high demand for premium products
and similar replacement cycles. The Vision Care headquarters was relocated from Japan to the Netherlands during 2005,
reflecting the growth potential in Europe and a commitment to greater global business development from a European base.
Hoya Continues to Hold the Top Market Share in Japan
Despite a mature market that has been stagnant overall for the last few years, reflecting sluggish personal consumption and
deflationary trends, Hoya continues to hold the leading position in its home market, where the quality and reliability of its
products are particularly valued, and sales inched up from a year earlier. Low-priced glasses from discount retailers, the so-called
“three-price shops,” remain popular, but growth has shown signs of leveling off, and recovery in the economy is helping to turn
attention toward the premium products in which Hoya has an advantage. The aging of the population should also give a boost to
the multifocal lenses and special coatings that are the Company’s strength, and provide steady sales if not rapid growth.