Pentax 2008 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2008 Pentax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

Note: The operating margin above is calculated using net sales plus intersegment sales. Please
refer to details on page 78, Segment Information.
Net sales
(Millions of yen)
Operating income
(Millions of yen)
Operating
margin (%)
Assets
(Millions of yen)
Depreciation
(Millions of yen)
Capital expenditures
(Millions of yen)
209,883
67,464
32.1
210,007
27,653
24,431
219,252
80,085
36.5
258,746
27,449
39,899
190,552
74,862
39.1
204,192
18,716
37,244
2006 2007 2008
200,000
150,000
100,000
50,000
0
40
30
20
10
0
(%)(Millions of yen)
Electro-Optics Division
In the Electo-Optics Division, net sales decreased 4.3% during the year,
to ¥209,883 million. In mask blanks for semiconductor production,
orders for phase-shift mask blanks and other high-precision products
rose in line with the ongoing miniaturization of semiconductors. In
photomasks for semiconductors, although orders for high-precision
and other products for the development of next-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 year, but sluggish growth in demand for
new masks and falling market prices sapped sales. Sales of glass
memory disks for HDDs declined, affected significantly by delayed
first-quarter introductions of new products that use the perpendicular
magnetic recording method. Sales of optical lenses increased, as
worldwide growth in demand for digital cameras steadily pushed up
demand for aspherical molded lenses for compact digital cameras, as
well as for highly complex lenses.
Segment operating income fell 15.8%, to ¥67,464 million. A poor
first-quarter performance in glass memory disks had a substantial
For more detailed segment information, please refer to pages 12
through 25 of this report.
Information Technology (Photonics Division)
Information Technology (Electo-Optics Division)
impact on income. Other principal reasons for lower income included
an ongoing decline in product prices amid global economic
deceleration throughout the year, coupled with higher production
costs stemming from such factors as rising crude oil and raw materials
prices, as well as yen appreciation.
Capital expenditures in this division came to ¥24,431 million, down
38.8% from the preceding term. These expenditures went toward
up-front production-related investment involving next-generation
semiconductor-related projects, expansion of our HDD glass disk plant
in Vietnam and upgrades to our plant in Thailand that makes polished
lenses for SLR digital cameras.
The Photonics Division mainly produces industrial devices that employ
lasers and specialty light sources, which are used by manufacturers of
semiconductors, LCD panels and optical devices. In a problematic
market environment during the year, Hoya promoted profit-focused
business strategies. Consequently, although divisional net sales
remained flat, at ¥9,090 million, operating income surged 68.1%, to
¥824 million.
Segment Information
HOYA ANNUAL REPORT 2008 43