Pentax 2008 Annual Report Download - page 23

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Even though the Chinese population is 10 times larger than
Japan’s, only a small portion of this population wears contact
lenses. Despite rapid economic growth coupled with increasing
interest in contact lenses—particularly among women in their
20s—market awareness of safety issues tends to be low, partly
because of regulatory issues. Amid such market conditions, we
opened the first overseas Eye City store in Shanghai in December
2005. Expanding from this launch of China’s first contact lens
specialty 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 earn the
trust of our customers, demonstrating that we are their partner in
eye health.
We plan to continue opening stores in China in the future, as
we release new products and build up our presence in the
Shanghai market. Looking also at other major cities, we aim to roll
out stores strategically based on the characteristics of each area,
thereby building an Eye City network in the Chinese market.
Seeing change as opportunity, we will fortify our base of
operations as we prepare to make our next leap forward
Further revisions in April 2008 to the fee standards for medical
examinations, including fees relating to contact lens examinations,
is expected to mark the start of a new era in Japan’s contact lens
market. To be sure, we expect industry conditions in the
upcoming year to be challenging, leading to a slowdown in new
store construction and more stringent price competition. We will
take this period as an opportunity to fortify our operating base as
we prepare Eye City to make its next leap forward. During this
period, we will lay the foundations for a solid management base
from which to aggressively expand our business, hinging on the
development of each employee in their interactions with
customers. Complementing these efforts, we will offer product
lineups, services and prices that attract more customers and raise
customer satisfaction even higher.
With advances in health care, the population of developed
countries is rapidly aging, leading to increasing prevalence of
age-related ailments, such as cataracts. With this condition, over
time the lens of the eye grows milky white and loses its
transparency. The resulting loss of sight can be rectified by
replacing the clouded natural lens
with a clear artificial lens, known as an
intraocular lens (IOL).
In addition to hard lenses, Hoya has
succeeded in creating a foldable soft
lens, which can be inserted into an
extremely small incision. Particularly in
recent years, demand has grown for
soft lenses, which reduce surgery-
related stress to the patients. We
manufacture and sell an innovative
injector system using these foldable
lenses to simplify IOL surgery.
Stunning clarity from a leader in optics and vision
Hoya manufactures and sells foldable lenses that can be inserted
in extremely small incisions, as well as the lens injector systems
that make IOL surgery more convenient. Highly regarded by
ophthalmologists for the quality and performance of its products,
Hoya holds a high share of the domestic market in this area,
despite its late entry into the field.
Since 2004, we have made steady inroads into the European
and Asian markets. Hoya recognizes, however, that it is
underrepresented globally and that it must reach out in particular
to the United States if it is to benefit from the expected growth in
the world’s largest IOL market.
Hoya’s bold decision in fiscal 2008 to transfer the global
headquarters of its IOL business to Southern California, in the
United States, in fiscal 2009 gives it a visible presence in the world’s
largest market, as well as exposure to the industry’s most advanced
R&D and most renowned surgeons.
Intraocular Lenses
Headquarters Relocating to the United States
with the Aim of Strengthening Global Business
Policies and Forecasts for the Year Ahead
Highlights
Moving into the Chinese Market, which Shows a
Growing Interest in Contact Lenses
Significant Actions Taken and Results Achieved in
the Fiscal Year under Review
Foldable acrylic IOL
HOYA ANNUAL REPORT 2008 21