Pentax 2007 Annual Report Download - page 17

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15
●Eye Care
Hoya’s Global Network
The global eyeglass lens market continues to show moderate
growth on the whole, but a closer look reveals a rather complex
picture. In certain countries and regions, the demand is for
high-end lenses, while in other areas the price competition for
low-priced lenses is intense. Despite the nuances of this market
environment, Hoya continues to record strong performance thanks
to growth in sales of its high-value-added products. These include
the Hoyalux iD multifocal lens, which features Hoya’s proprietary
integrated double-surface progressive lens design, as well as
high-index lenses and superior performance lens coatings.
Because distribution systems, consumer tastes and
government regulations differ from country to country and region
to region, Hoya runs its eyeglass business using strategies
specifically tailored for each different market. In the fiscal year
ended March 31, 2007, Hoya commenced sales of Hoyalux FD
lenses in the Japanese, European and Asian markets. These new
lenses are being produced based on a partial standardization of
the superlative designs used in the fully optioned, custom-made
Hoyalux iD lenses. The objective is to offer many customers a
new series of lenses which benefit from the same superior
technologies that have been proven in iD lens designs. Also
during the year, Hoya introduced two new brands to complement
the Hoya brand in Asia and Europe, seeking to build market share
using a multi-branding strategy.
During the year, emerging markets also showed significant
activity. Sales doubled in Russia, and set new growth records in
Poland and Hungary following the establishment of sales
subsidiaries in those countries. In South Africa, a sales company
that was made a subsidiary in 2006 recorded double-digit growth,
and in Saudi Arabia and other countries in the Middle East
distribution networks continued to grow. Hoya has also
established a local subsidiary in Mumbai, aiming to build a new
presence in the Indian market, which is set to record strong future
economic growth. Hoya predicts that, over the next 20 years,
80% of sales growth will come from Asia and other emerging
markets. However, in order to realize this potential, Hoya must
expand its network of clients among eyeglass retail stores and
invest in training and education for these clients’ employees. This
step will lay the foundation for sales of high-value-added products.
Hoya is developing its eyeglass lens business with
strategies tailored to suit individual market environments,
introducing high-value-added products and new brands
Eyeglass Lenses
Eyeglass LensesVision Care Division