Pentax 2008 Annual Report Download

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Table of contents

  • Page 1

  • Page 2
    ... our management integration with Pentax to accelerate growth. On March 31, 2008, Hoya merged with Pentax-the Company's consolidated subsidiary since August 2007-and commenced operations as a single business entity. We will leverage the management resources of Hoya and Pentax to realize synergies and...

  • Page 3
    ...Information Technology Electro-Optics Division Photonics Division Eye Care Vision Care Division Health Care Division Pentax R&D and Intellectual Property Activities Environmental Initiatives Corporate Governance Financial and Corporate Data *1 From the fiscal year ended March 31, 2007, the Company...

  • Page 4
    ...report that Hoya submitted a tender offer to acquire Pentax Corporation in July 2007, taking on the firm as a consolidated subsidiary in August. On March 31, 2008, Hoya and Pentax merged to form a single business entity. Looking at the fiscal year under review as a turning point in Hoya's history...

  • Page 5
    ... in ongoing harsh business conditions as the number of semiconductor chip development models declines, thereby stiffening competition in the photomask market and leading to lower prices. In the LCD panel market in the fiscal year under review, an Information Technology Overall net sales in the...

  • Page 6
    ...We expect unit prices to fall, however, causing the growth rate to taper off. Hoya will continue to pursue its policy of market growth through specialization in products that utilize its technical capabilities. Eye Care In the Vision Care business, which produces eyeglass lenses, net sales totaled...

  • Page 7
    New Structure of the Hoya Group HOYA Strategic Business Units Blanks Masks Memory Disks Optics Vision Care Health Care Life Care PENTAX Imaging Systems Optical Components Global Headquarters store openings, due to the inï¬,uence of medical fee reforms. However, the chain attracted more customers ...

  • Page 8
    ... the domain to optical technologies, which is an area of particular expertise for both corporations, we can demonstrate undisputed competitive advantages. To this end, we are aggressively investing management resources to cultivate and develop new markets. Business Portfolio Management and a Medium...

  • Page 9
    ... and products that have room for improvement. We maintain our policy of cultivating and acquiring new technologies and new businesses to add value to the Hoya Group. Although Pentax Corporation has been dissolved by this merger, we will continue to use the globally recognized Pentax brand name...

  • Page 10
    ... drugs. Imaging Systems Business In 1952, Pentax released the first 35mm SLR camera made in Japan, going on to create original technologies and products as a leader in the culture of images and photography. The PENTAX K10D, a digital SLR camera with interchangeable lens released in...

  • Page 11
    ... medium-format SLR camera with interchangeable lens Developed and commercialized the world's first DVD/CD-compatible hybrid diffraction lens Changed the company name from Asahi Optical Co., Ltd. to Pentax Corporation Released the PENTAX Optio S, a digital camera equipped with a sliding lens system...

  • Page 12
    ... Information Technology, Eye Care and now Pentax businesses and divisions. ElectroOptics Division Information Technology Photonics Division Net Sales Breakdown by Business Segment* (Year ended March 31, 2008) Electro-Optics 43.6% Group Total Vision Care 26.2% Vision Care Division Health Care...

  • Page 13
    ...-added products such as Hoya's excellent progressive and high index lenses. Eyeglass lenses 100 80 60 40 20 0 25 20 15 10 5 0 2005 2006 2007 2008 The Health Care Division is responsible for the development of the Eye City chain of contact lens specialty stores, and it also produces and sells...

  • Page 14
    ... home electronics, entertainment and a host of other content comes the need to develop technologies to process increasing volumes of data at high speeds. Hoya provides the technology and products that enable the development of higher-capacity, faster information and telecommunications equipment that...

  • Page 15
    ... the Year Ahead Focusing on new product development and technical support to improve semiconductor manufacturing processes Hoya will continue funneling resources into high-value-added products and enhancing its development system in support of 32 nm. Moreover, the semiconductor industry is nearing...

  • Page 16
    ... production of existing models than on new product development, which reduced the number of new orders for photomasks and softened overall demand in the market. Coupled with plunging prices for certain products, the Company faced a year fraught with adversity. Under such circumstances, Hoya worked...

  • Page 17
    ... of 2007, HDD manufacturers fully transitioned to a perpendicular magnetic recording method that enables increased storage capacity through greater data recording density. Although Hoya got a head start in developing media compatible with the new method several years in advance, delays in technical...

  • Page 18
    ... Hoya maintains a complete production system capable of manufacturing everything from optical glass to processed optical lenses, and develops and manufactures high-precision aspherical molded lenses and polished lenses used in the photographic optical units of digital cameras, video cameras, camera...

  • Page 19
    ...polishing and mold pressing plants in response to booming demand. We also expanded our production lines for polished lenses used in digital SLR cameras, for which demand is expected to grow, and for aspherical lenses. challenges by developing products ranging from advanced glass materials that have...

  • Page 20
    ... lenses swiftly and more efficiently than ever before. Hoya is also enhancing eyeglass sales to a much broader customer base. For example, the Company helps retail stores offer higher-quality services by providing sales support software, expanding the application of direct ordering systems...

  • Page 21
    ... and other areas where we have no direct investments at present. *1 FreeForm design technology: Created by using Hoya's design and processing North America Cultivating Sales Channels and Aggressively Developing Our Brand Strategy In fiscal 2008, this market endured issues related to the subprime...

  • Page 22
    ...prefer Hoya's Eye City chain of 150 contact lens specialty stores across Japan is the largest such enterprise in the country. Eye City emphasizes the eye health of each of its clients as it expands the scale of its business by providing quality products and services that customers can feel secure in...

  • Page 23
    ... store, we have raised the number of Eye City stores in Shanghai to six. To ensure that customers can feel secure in wearing their contact lenses, staff opticians use the latest eye examination equipment to determine the best-suited lenses for each customer. Such thorough after-sales service helps...

  • Page 24
    ... markets, such as China and India. Hoya continues to develop its business strategies with the aim of sustaining its double-digit growth. To achieve these targets, during the next three years we will optimize our supply chain, spanning product development, manufacturing, distribution and sales...

  • Page 25
    ...ease of use and image clarity. Lifecare Business Employing endoscope systems and new ceramics to provide high-quality products that push the envelope in medical care Medical Devices "i" series megapixel-image-capable endoscope system on sale in the United States and Europe Pentax develops and sells...

  • Page 26
    ... Company strives to build up groups of products truly sought after by customers and aggressively promotes global operations, while refining its unique technologies to outshine its rivals. Imaging Systems Business Ramping up sales promotions targeting high amateurs, centering on digital SLR cameras...

  • Page 27
    ... by product-the technical capabilities it has cultivated over the years. The new standard-setter for digital SLR image quality Optical Components Business Delivering High-Value-Added Lens Modules Based on Optical and Precision Processing Technologies Small-Size Lenses Developing DVD/CD-Compatible...

  • Page 28
    ... high temperatures. When used in hybrid and fuel cell powered vehicles, apart from the low energy consumption, they should have lower production costs due to their smaller size and the lower weight of cooling systems. With the goal of a practical application in 2010, Hoya is developing technologies...

  • Page 29
    ... systems, including lenses for digital and security cameras, binoculars and telescopes; pickup lenses for CDs, DVDs and Blu-ray Discs; as well as laser printers, projectors and medical endoscopes. By promoting in-house development of proprietary software used in design, we can incorporate high-level...

  • Page 30
    ... an eye toward peripheral, applied and alternative technologies. In relation to those fields in which Hoya commands a leading position, the Company focuses on accelerating the process of securing patents in cutting-edge areas. At the same time, in competitive markets, Hoya concentrates on promoting...

  • Page 31
    ... groupwide in Japan in the fiscal period ended March 31, 2007 (including those in the prior examination and review stages) was approximately 60% (57% for previous Hoya applications and 63% for Pentax applications). Registered Patents and Utility Models (As of March 31, 2008) New-Business Related...

  • Page 32
    ... reducing the number of ignitions necessitated by equipment starts and stops. The Company also implemented ice thermal storage systems, adopted high-efficiency electrical transformers and replaced outdated equipment with the best new models to keep facilities up to date. We also promoted greenery on...

  • Page 33
    ... Hoya Group to gain such certification. Since then, Hoya has proceeded with efforts to gain certification for its operating facilities, including overseas production bases, and a total of 42 Hoya group sites (13 in Japan, 29 abroad) have now acquired certification. HOYA ANNUAL REPORT 2008 31

  • Page 34
    ... Hoya at the General Shareholders' Meeting held in June 2008, to further enhance business execution to the accommodate the increasing scale of operations, including the business integration with Pentax. Consequently, the Board of Directors now consists of five outside directors and four internal...

  • Page 35
    ... interest are reported to the Board of Directors, and action is taken according to need. Internal Control Systems In addition to striving to further strengthen its corporate governance, the Hoya Group also devotes resources to the development of sound internal control systems with the objective of...

  • Page 36
    ...2008, the system had been introduced at Group companies in Japan, North America (the United States and Canada), Thailand and Europe. The intention is to continue to expand the number of countries covered, giving the Hoya Help Line worldwide coverage. Under the guidance of the Internal Controls Group...

  • Page 37
    ... of Income 55 Consolidated Statements of Changes in Net Assets 57 Consolidated Statements of Cash Flows 59 Notes to Consolidated Financial Statements 83 Independent Auditors' Report 84 Corporate Data 85 Timeline 86 Hoya Group Global Network 88 Investor Information HOYA ANNUAL REPORT 2008 35

  • Page 38
    ... issued by the Accounting Standards Board of Japan on September 25, 2002). Net income per share and related data prior to that date are also calculated according to the standard for purposes of comparison. 2. From the fiscal year ended March 31, 2007, the Company has applied "Accounting Standard for...

  • Page 39
    ... 2002 are calculated using simple cash flow calculated by adding depreciation and other factors to net income. The figures presented for "net assets per share" for fiscal 2006 and earlier correspond to the figures previously presented as "shareholders' equity per share." HOYA ANNUAL REPORT 2008 37

  • Page 40
    ...is the financial headquarters for the Group. Consequently, the two companies concluded the merger agreement at the Board of Directors' meeting on October 29, 2007, and Hoya merged with Pentax on March 31, 2008. Even after the merger, the brand name "Pentax" will continue to be used in light of its...

  • Page 41
    ...,172 2006 344,228 2007 390,093 2008 481,631 Sales by Business Segment (% of total) 100 75 49.8 53.8 55.4 56.2 43.6 1.9 50 1.5 25 36.2 10.4 2.1 2004 Electro-Optics (Millions of yen) Photonics (Millions of yen) Vision Care (Millions of yen) Health Care (Millions of yen) Pentax (Millions of yen...

  • Page 42
    ...,232 35,471 13.2 9.6 0 Japan (Millions of yen) Asia (Millions of yen) Europe (Millions of yen) North America (Millions of yen) Sales to Domestic and Foreign Customers (Based on the location of customers) (% of total) 100 39.1 75 54.6 50 16.5 25 14.8 0 Japan (Millions of yen) Asia and Other Areas...

  • Page 43
    ... year, to ¥81,725 million. Dividends Hoya places top priority on capital investment, R&D investment and corporate merger and acquisition in its quest for growth on the use of internal reserve funds. Once objectives in these areas have been achieved, the Company's basic policy is to actively return...

  • Page 44
    ...2006 27.1 29.1 21.2 2007 25.9 25.4 20.6 2008 21.6 17.6 14.4 Note: From the fiscal year ended March 31, 2007, the Company has applied "Accounting Standard for Presentation of Net Assets in the Balance Sheet" (Statement No. 5 issued by the Accounting Standards Board of Japan on December 9, 2005) and...

  • Page 45
    ...generation semiconductors increased, Japan-centered demand for medium- and lower-end products was lackluster, resulting in a year-on-year decline in sales. With regard to large-sized photomasks for LCD production, panel manufacturers-Hoya's customers-undertook concentrated mass production during the...

  • Page 46
    ... Segment Information. Net sales in the Vision Care Division rose 5.5%, to ¥126,338 million. Sales in Japan were down 4.8%, as the market continued to contract. Also, although sales of Hoya's high-end eyeglass lenses rose, prices were affected by downward pressure resulting from stiff competition...

  • Page 47
    ... the compact digital camera market is depressing unit prices, sales in this business were up only slightly during the year. Sales in the Optical Components business increased as a result of higher unit sales of high-end products using the Sliding Lens System and regular lens units. Pentax operations...

  • Page 48
    ... year ended March 31, 2008 (Compared with the previous fiscal year) Sales Growth Ratio (%) 90 * Size of circle shows the volume of operating income. Europe 70 Asia North America 50 30 Consolidated Basis Japan 10 Consolidated Basis -10 0 5 10 15 20 25 30 35 Operating margin (%) Group Employees...

  • Page 49
    ... Position Total assets as of March 31, 2008, stood at ¥689,444 million, a 54.0% increase, compared with a year earlier. The primary factor in this substantial gain was the addition of the total assets of Pentax (¥204,853 million as of March 31, 2008), based on the merger of Hoya and Pentax...

  • Page 50
    ... ratio (%) 486 - - - - 486 - 486 0.2 2005 194 - - - - 194 - 194 0.1 2006 2007 2008 6,465 8,749 6,192 13,268 99,967 134,641 1,551 136,192 19.8 Note: Corporate bonds were issued to fund a public tender offer to acquire Pentax Corporation, as follows: Five-year bonds: ¥39,982 million Seven-year...

  • Page 51
    ..., stemming from the acquisition of Pentax's shares and other changes in the scope of consolidation, and expenditures of ¥38,889 million (down ¥13,490 million) for purchases of property, plant and equipment, especially investments to support forthcoming products in the Electro-Optics Division...

  • Page 52
    ... (Times) Price book value ratio (Times) Stock price at fiscal year-end (Yen) (after adjustment for stock split) 0 2005 20.4 17.2 4.7 2,950 2006 27.7 19.7 7.3 4,750 2007 20.2 17.1 4.6 3,910 2008 12.4 8.4 2.6 2,340 28.9 14.5 5.2 2,537 Stock Price and Trading Volume Stock price (Yen) Trading volume...

  • Page 53
    ... if the Hoya Group fails to sufficiently predict changes in the sector and markets or to develop new products that meet customer needs in time, the business results and financial condition of Hoya Group might be adversely affected. Competition The Hoya Group, which has the top market share for its...

  • Page 54
    ...,522 2,399 (2,388) 82,822 10,868 14,583 410,273 2007 ¥120,622 94,297 2,142 (1,312) 49,722 7,068 3,168 275,707 2008 $1,811,229 1,202,934 23,945 (23,835) 826,649 108,474 145,553 4,094,949 PROPERTY, PLANT AND EQUIPMENT (Note 5) Land Buildings and structures Machinery and vehicles Furniture and...

  • Page 55
    ...shares Capital surplus Retained earnings Treasury stock, at cost- 2,158,291 shares in 2008 and 3,447,681 shares in 2007 Total shareholders' equity ACCUMULATED GAINS (LOSSES) FROM REVALUATION AND TRANSLATION ADJUSTMENTS Net unrealized loss on available-for-sale securities... HOYA ANNUAL REPORT 2008 53

  • Page 56
    ... on impairment of long-lived assets (Note 5) Additional retirement benefits paid to employees (Note 6) Gain on sales of property, plant and equipment Gain on transfer of business Loss on write-down of investment securities Other income (expense)-net Other expenses-net INCOME BEFORE INCOME TAXES AND...

  • Page 57
    ... Statements of Changes in Net Assets Hoya Corporation and Subsidiaries Years Ended March 31, 2008, 2007 and 2006 Millions of Yen Outstanding Number of Shares of Common Stock Common Stock Capital Surplus Retained Earnings Treasury Stock, at Cost Net Unrealized Gain (Loss) Foreign Stock on...

  • Page 58
    ... of Changes in Net Assets Hoya Corporation and Subsidiaries Years Ended March 31, 2008, 2007 and 2006 Millions of U.S. Dollars (Note 1) Common Stock Capital Surplus Retained Earnings Treasury Stock, at Cost Net Unrealized Gain (Loss) Foreign Stock on Available Currency Subscription for Sale...

  • Page 59
    ... property, plant and equipment Loss on disposal of property, plant and equipment Loss on impairment of long-lived assets Loss on write-down of investment securities Foreign exchange loss (gain) Bonuses to directors Equity in earnings of associated companies Gain on transfer business Other Changes in...

  • Page 60
    ...Years Ended March 31, 2008, 2007 and 2006 Millions of Yen Thousands of U.S. Dollars (Note 1) 2008 FINANCING ACTIVITIES Net decrease in short-term loans Proceeds from long-term bank loans and issuance of corporate bonds Repayments of long-term debt Payments for purchases of treasury stock Proceeds...

  • Page 61
    ...review, a depreciation method based on the revised Corporation Tax Law is used for tangible fixed assets acquired on or after April 1, 2007. The change caused operating income and income before taxes and other items to decrease ¥426 million ($4,252 thousand). The effect of this change on business...

  • Page 62
    ...amounts of retirement benefit obligations and pension assets at the end of the year. Past service costs are amortized on a straight-line basis over 10 years, which is less than the expected average remaining working lives of the employees. Actuarial gains and losses are also amortized on a straight...

  • Page 63
    ... for inclusion in the 2006 consolidated financial statements, the Company prepared the consolidated statement of changes in net assets for 2006 as well as for 2007. These reclassifications had no impact on previously reported results of operations or retained earnings. HOYA ANNUAL REPORT 2008 61

  • Page 64
    ... Financial Statements Hoya Corporation and Subsidiaries No. 3 INVESTMENT SECURITIES Investment securities as of March 31, 2008 and 2007 consisted of the following: Millions of Yen Thousands of U.S. Dollars 2008 Marketable equity securities Non-marketable equity securities Total ¥3,616...

  • Page 65
    ...-City, due to a fall of market land prices. The carrying amount of the relevant land was written down to the recoverable amount, which was measured at its declared value. The Group reviewed its long-lived assets for impairment for the years ended March 31, 2008, 2007 and 2006. As a result, the...

  • Page 66
    ... Consolidated Financial Statements Hoya Corporation and Subsidiaries Assumptions used for the years ended March 31, 2008 and 2007 are set forth as follows: 2008 Discount rate Expected rate of return on plan assets Amortization of unrecognized prior service cost (Straight-line method) Recognition of...

  • Page 67
    ...term debt as of March 31, 2008 were as follows: Millions of Yen Thousands of U.S. Dollars Year Ending March 31 2009 2010 2011 2012 2013 Thereafter Total 2008 ¥ 8,749 4,607 4,038 44,128 6 60,456 ¥121,984 2007 2008 87,324 45,983 40,303 440,443 60 603,413 $1,217,526 HOYA ANNUAL REPORT 2008 65

  • Page 68
    ... Hoya Corporation and Subsidiaries No. 9 INCOME TAXES The company and its domestic subsidiaries are subject to Japanese national and local income taxes which, in the aggregate, resulted in a normal effective statutory tax rate of approximately 40.4% for the years ended March 31, 2008, 2007...

  • Page 69
    ...¥120,622 (-) ¥120,622 2008 $1,811,229 (1,308) $1,809,921 2. Purchases of newly consolidated subsidiaries The Company started to consolidate Pentax and its subsidiaries at September 30, 2007. The following shows the reconciliation from the payment for purchasing Pentax shares, which equals to the...

  • Page 70
    Notes to Consolidated Financial Statements Hoya Corporation and Subsidiaries No. 12 LEASES The Group leases certain machinery, computer equipment, office space and other assets. Total rental expenses including lease payments for the years ended March 31, 2008, 2007 and 2006 were ¥7,482 milion ($...

  • Page 71
    ... by forwward exchange rates (2) Currency option contract : Calculation of market is based on the prices provided by the financial institutions the Company has business connection with. 2. Transactions which are translated at the contracted forward rates are excluded. HOYA ANNUAL REPORT 2008 69

  • Page 72
    ... diluted net income per share (EPS) for the years ended March 31, 2008, 2007 and 2006 was follows: Millions of Yen Net Income Yen EPS U.S. Dollars EPS For the year ended March 31, 2008 Basic EPS-Net income available to common shareholders Effect of dilutive securities-Stock options Diluted EPS-Net...

  • Page 73
    ... are as follows: Increase of 3,407 shares attributed to the repurchase of odd lot shares Decrease of 397 shares attributed to the request for additional purchase of odd lot shares by shareholders Decrease of 1,292,400 shares attributed to the exercise of stock options HOYA ANNUAL REPORT 2008 71

  • Page 74
    ... to September 30, 2016 date (December 14, 2007) to the end of the vesting period. From the grant date to the end of the vesting period. From October 1, 2008 to September 30, 2017 Service period Exercise period (Note 2) Notes: 1. Number of stock options is expressed in number of shares to be issued...

  • Page 75
    ... into account a four-for one stock split for common stock as of November 15, 2005. 2. As the 1st stock subscription rights through 5th stock subscription rights were granted before the Corporate Law of Japan became effective, fair value per unit was not calculated. HOYA ANNUAL REPORT 2008 73

  • Page 76
    ... of the concerned company after business combination and ratio of acquired voting rights (1) Name of the acquired company and description of its businesses Acquired company: Pentax Corporation Business description: Manufacture, sale, etc. of life care products, imaging systems and optical components...

  • Page 77
    ... combination, and name of the company formed through business combination Names of companies involved in business combination and description of their businesses Combining company: Pentax Corporation Business description: Manufacture and sale, etc. of life care products, imaging systems and optical...

  • Page 78
    ... vision care and healthcare products Combined company: Pentax Corporation Business description: Manufacture and sale, etc. of life care products, imaging systems and optical components Business combination date March 31, 2008 Legal form for business combination and name of the company formed through...

  • Page 79
    ... customers. Moreover, the Company will strengthen the business infrastructure of NH TECHNO GLASS further in concert with Carlyle, with a view to enhancing its corporate value and listing its shares on a stock exchange in the future. 2. Profile of the acquiring party (1) Business name Carlyle Group...

  • Page 80
    ... ended March 31, 2008, 2007 and 2006 was as follows: (1) Industry Segments a. Sales and Operating Income Millions of Yen 2008 Information Technology Electro-Optics Photonics Eye Care Vision Care Health Care Pentax Other Businesses Total Eliminations and Corporate Consolidated Sales to customers...

  • Page 81
    ...2007 Information Technology Electro-Optics Photonics Eye Care Vision Care Health Care Other Businesses Total Eliminations and Corporate Consolidated Sales to customers Intersegment sales Total sales...(5,357) (5,357) (2,936) ¥(2,421) ¥344,228 - 344,228 243,132 ¥101,096 HOYA ANNUAL REPORT 2008 79

  • Page 82
    ... glass, etc. Vision Care: Eyeglasses, eyeglass frames, etc. Health Care: Contact lenses and related accessories, intraocular lenses, etc. Pentax: (Lifecare) Endoscopes, Medical Accessories, APACERAM bone prosthesis, CHT Ceramic Hydroxapatite, etc. (Imaging System) Digital cameras, Interchangeable...

  • Page 83
    ... Group is located. The segments consist of the following countries: North America: United States of America, Canada, etc. Europe: Netherlands, Germany, United Kingdom, etc. (including South Africa) Asia: Singapore, Thailand, China, Republic of Korea, Taiwan, etc. (including Australia) 2. Corporate...

  • Page 84
    ...228 49.6% Note: The Company and subsidiaries are summarized in four segments by geographic area based on the countries where the customers are located. The segments consist of the following countries: North America: United States of America, Canada, etc. Europe: Netherlands, Germany, United Kingdom...

  • Page 85
    HOYA ANNUAL REPORT 2008 83

  • Page 86
    ...Hoya Group Business Matrix by Business Segment and Area Global Headquarters (Formulates Group strategies) Information Technology Eye Care Pentax Other Legal and Financial Support Japan Asia (Regional headquarters) United States (Regional headquarters) EU/FHQ (Regional headquarters and Group...

  • Page 87
    ... the Tokyo and Nagoya Stock Exchanges. The Electronics Division's Nagasaka Plant was completed, and the production of IC substrates began. Hoya's on-line network to handle eyeglass lens orders was introduced in the Vision Care Division. Hoya Electronics Co., Ltd., merged with the parent company. The...

  • Page 88
    ... (PTY) LTD. HOYA LENS NORWAY AS HOYA MEDICAL EUROPE GMBH Pentax PENTAX EUROPE N.V. PENTAX EUROPE GMBH SISTEMAS INTEGRALES DE MEDICINA, S.A. PENTAX NEDERLAND B.V. PENTAX ITALIA S.R.L PENTAX U.K. LTD. PENTAX FRANCE S.A.S. PENTAX SCHWEIZ AG Information Technology HOYA ELECTRONICS MALAYSIA SDN. BHD...

  • Page 89
    .... PENTAX TRADING (SHANGHAI) CO., LTD. PENTAX MEDICAL SINGAPORE PTE LTD. TI PENTAX HOLDING CO., LTD. Information Technology HOYA CORPORATION USA HOYA PHOTONICS, INC. RADIANT IMAGES, INC. QSTREAMS NETWORKS, INC. Eye Care HOYA LENS CANADA, INC. HOYA LENS OF AMERICA, INC. EAGLE OPTICS, INC. HOYA LENS...

  • Page 90
    ... 31, 2008) Listing of the Company's Shares First Section of the Tokyo Stock Exchange Shares of Common Stock Authorized: 1,250,519,400 Issued: 435,017,020 Trading Unit 100 shares Shareholders 82,383 Share Ownership Ownership Individuals, others 18.6% Financial institutions 27.7% Other corporate...

  • Page 91
    ...-10 Tan Boon Liat Building, Singapore 169074 TEL +65-6224-2933 For additional information about this publication, contact: Corporate Communications 2-7-5 Naka-Ochiai, Shinjuku-ku, Tokyo 161-8525, Japan TEL +81-3-3952-1160 FAX +81-3-3952-0726 URL http://www.hoya.co.jp/ HOYA ANNUAL REPORT 2008 89

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